Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Wedmont Private Capital

Wedmont Private Capital reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 27.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,704 shares of the semiconductor company’s stock after selling 2,143 shares during the period. Wedmont Private Capital’s holdings in Qorvo were worth $409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its position in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Qorvo by 5.0% during the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 107 shares during the last quarter. American Trust raised its holdings in shares of Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 115 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Qorvo by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after buying an additional 140 shares during the last quarter. Finally, Narwhal Capital Management boosted its holdings in shares of Qorvo by 7.7% in the 3rd quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company’s stock valued at $231,000 after buying an additional 160 shares during the period. Institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on QRVO shares. Mizuho dropped their price objective on shares of Qorvo from $98.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Raymond James downgraded Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price objective on Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Craig Hallum dropped their target price on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.06.

Qorvo Stock Performance

Shares of NASDAQ QRVO opened at $74.16 on Thursday. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The firm has a market cap of $7.01 billion, a P/E ratio of -50.79, a PEG ratio of 5.58 and a beta of 1.40. The stock has a fifty day moving average price of $69.75 and a two-hundred day moving average price of $94.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company’s quarterly 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. Research analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Insider Transactions at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 30,261 shares in the company, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.