Venturi Wealth Management LLC Purchases 250 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Venturi Wealth Management LLC grew its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 67.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 621 shares of the semiconductor company’s stock after acquiring an additional 250 shares during the period. Venturi Wealth Management LLC’s holdings in Qorvo were worth $43,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares during the period. Farther Finance Advisors LLC increased its position in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 104 shares during the period. Versant Capital Management Inc increased its position in shares of Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares during the period. CENTRAL TRUST Co increased its position in shares of Qorvo by 2,621.4% during the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 734 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Qorvo during the third quarter valued at about $96,000. 88.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QRVO has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Bank of America reduced their price target on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. TD Cowen cut their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.84.

Insider Activity at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Qorvo Trading Down 0.2 %

NASDAQ:QRVO opened at $75.12 on Wednesday. The company’s 50 day moving average price is $76.88 and its 200-day moving average price is $86.50. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 268.29, a PEG ratio of 15.57 and a beta of 1.41.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.