Raymond James & Associates Increases Stock Position in Qorvo Inc (NASDAQ:QRVO)

Raymond James & Associates increased its position in Qorvo Inc (NASDAQ:QRVO) by 30.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,043 shares of the semiconductor company’s stock after buying an additional 38,212 shares during the quarter. Raymond James & Associates owned about 0.14% of Qorvo worth $18,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of QRVO. Ameritas Investment Company LLC acquired a new stake in Qorvo during the first quarter worth about $31,000. Signaturefd LLC lifted its stake in shares of Qorvo by 275.2% in the 1st quarter. Signaturefd LLC now owns 439 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 322 shares in the last quarter. CSat Investment Advisory L.P. grew its holdings in shares of Qorvo by 32.5% during the 1st quarter. CSat Investment Advisory L.P. now owns 620 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 152 shares during the period. Synovus Financial Corp acquired a new stake in Qorvo during the 1st quarter worth approximately $52,000. Finally, Verus Capital Partners LLC purchased a new position in Qorvo in the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 88.02% of the company’s stock.

NASDAQ:QRVO opened at $128.15 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.18 and a current ratio of 4.08. The company has a market capitalization of $14.66 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 2.63 and a beta of 1.41. Qorvo Inc has a one year low of $67.54 and a one year high of $130.86. The stock has a 50-day simple moving average of $112.02 and a 200 day simple moving average of $101.04.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, July 29th. The semiconductor company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.13 by $0.37. The company had revenue of $787.50 million during the quarter, compared to analyst estimates of $729.91 million. Qorvo had a return on equity of 16.10% and a net margin of 12.05%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. On average, equities research analysts forecast that Qorvo Inc will post 4.73 EPS for the current fiscal year.

Several equities research analysts have issued reports on the stock. Raymond James boosted their price objective on shares of Qorvo from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho upped their price target on shares of Qorvo from $114.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday. Cfra cut their price objective on Qorvo from $120.00 to $109.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. BidaskClub upgraded Qorvo from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Finally, Craig Hallum increased their target price on Qorvo from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Qorvo presently has an average rating of “Buy” and an average price target of $121.36.

In other Qorvo news, VP Steven E. Creviston sold 2,000 shares of Qorvo stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $113.15, for a total value of $226,300.00. Following the completion of the transaction, the vice president now directly owns 65,018 shares in the company, valued at $7,356,786.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert A. Bruggeworth sold 15,933 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $102.96, for a total value of $1,640,461.68. Following the transaction, the chief executive officer now directly owns 159,993 shares of the company’s stock, valued at $16,472,879.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,877 shares of company stock valued at $3,409,446. 0.66% of the stock is owned by insiders.

Qorvo Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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