Jefferies Financial Group Inc. Makes New Investment in Qorvo, Inc. $QRVO

Jefferies Financial Group Inc. purchased a new position in Qorvo, Inc. (NASDAQ:QRVO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 93,211 shares of the semiconductor company’s stock, valued at approximately $10,671,000.

Other hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Qorvo during the 2nd quarter valued at about $32,000. Elevation Wealth Partners LLC grew its position in shares of Qorvo by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 310 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Qorvo in the second quarter worth about $43,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Qorvo in the third quarter worth about $47,000. Finally, Root Financial Partners LLC bought a new stake in shares of Qorvo in the third quarter worth about $51,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

QRVO stock opened at $114.17 on Thursday. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $121.09. The firm has a market capitalization of $10.07 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.98 and a beta of 1.42. The company has a fifty day simple moving average of $113.55 and a two-hundred day simple moving average of $94.69. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45.

Insider Activity

In other news, CFO Grant Brown sold 5,179 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $504,952.50. Following the sale, the chief financial officer directly owned 49,268 shares in the company, valued at approximately $4,803,630. This represents a 9.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Bruggeworth sold 28,744 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.87, for a total transaction of $2,899,407.28. Following the completion of the transaction, the chief executive officer directly owned 325,546 shares of the company’s stock, valued at approximately $32,837,825.02. The trade was a 8.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 62,309 shares of company stock worth $6,304,642. 0.49% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on QRVO. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Citigroup cut their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. UBS Group upped their price objective on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $91.45.

Qorvo Profile

Qorvo, Inc. develops and supplies radio-frequency (RF) semiconductor components and solutions used to connect, power and protect electronic systems. Its products include RF amplifiers, filters, switches, tuners and integrated modules, as well as technologies for power management and wireless connectivity. The company serves markets that include mobile devices, network infrastructure, automotive, aerospace and defense, industrial applications and the Internet of Things. Its solutions are used in products ranging from smartphones and wireless networks to radar systems and connected devices, with customers and operations spanning global markets.