Qorvo, Inc. (NASDAQ:QRVO) Stake Increased by Stifel Financial Corp

Stifel Financial Corp increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,649 shares of the semiconductor company’s stock after purchasing an additional 807 shares during the quarter. Stifel Financial Corp’s holdings in Qorvo were worth $790,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of QRVO. Larson Financial Group LLC increased its holdings in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Qorvo in the 3rd quarter valued at approximately $41,000. Farther Finance Advisors LLC lifted its position in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Qorvo by 382.5% during the 2nd quarter. UMB Bank n.a. now owns 550 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 436 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Qorvo during the 2nd quarter valued at $88,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value 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 trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays lowered their target price on Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. TD Cowen lowered their price target on Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Susquehanna cut their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Loop Capital began coverage on shares of Qorvo in a research report on Monday, November 11th. They issued a “hold” rating and a $73.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target 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. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $102.88.

Qorvo Price Performance

Shares of QRVO stock opened at $71.50 on Wednesday. The stock’s fifty day simple moving average is $75.79 and its 200 day simple moving average is $98.68. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of -48.97, a P/E/G ratio of 5.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.99 earnings per share. On average, analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Qorvo Company Profile

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.