United Advisor Group LLC Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

United Advisor Group LLC purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,853 shares of the semiconductor company's stock, valued at approximately $351,000.

Other institutional investors also recently bought and sold shares of the company. Clarius Group LLC purchased a new stake in shares of Qorvo in the first quarter valued at $240,000. Hanson & Doremus Investment Management grew its holdings in Qorvo by 24.0% during the 1st quarter. Hanson & Doremus Investment Management now owns 6,636 shares of the semiconductor company's stock valued at $481,000 after purchasing an additional 1,286 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Qorvo by 10.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company's stock worth $547,000 after purchasing an additional 717 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in Qorvo by 2.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 61,595 shares of the semiconductor company's stock worth $4,460,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Simon Quick Advisors LLC bought a new stake in Qorvo in the first quarter worth about $261,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Performance

Shares of QRVO stock opened at $80.30 on Friday. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 138.45, a PEG ratio of 2.14 and a beta of 1.37. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99. The company has a quick ratio of 1.95, a current ratio of 2.77 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $72.52 and its 200 day moving average is $72.88.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.42. The business had revenue of $869.47 million for the quarter, compared to analysts' expectations of $850.13 million. Qorvo had a return on equity of 12.48% and a net margin of 1.50%. The business's revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Insider Activity at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total value of $101,630.50. Following the completion of the transaction, the director now directly owns 7,597 shares in the company, valued at approximately $532,473.73. The trade was a 16.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QRVO has been the topic of several recent analyst reports. Citigroup reiterated a "sell" rating on shares of Qorvo in a report on Tuesday, June 10th. Benchmark raised Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a research report on Wednesday, April 30th. TD Cowen decreased their target price on Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Needham & Company LLC lowered their target price on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus set a $75.00 price target on shares of Qorvo in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $91.21.

Qorvo 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.

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