United Advisor Group LLC Makes New $351,000 Investment in Qorvo, Inc. (NASDAQ:QRVO)

United Advisor Group LLC bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,853 shares of the semiconductor company's stock, valued at approximately $351,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. City Holding Co. bought a new position in shares of Qorvo in the 1st quarter worth $25,000. Rakuten Securities Inc. bought a new position in shares of Qorvo during the 4th quarter valued at $28,000. Huntington National Bank grew its holdings in shares of Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Curat Global LLC bought a new position in shares of Qorvo during the 1st quarter valued at $34,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Qorvo during the 4th quarter valued at $37,000. Institutional investors own 88.57% of the company's stock.

Qorvo Trading Up 1.3%

Shares of QRVO traded up $1.01 during trading hours on Monday, reaching $80.92. 1,129,960 shares of the company traded hands, compared to its average volume of 2,226,653. The company's fifty day moving average price is $73.43 and its two-hundred day moving average price is $73.09. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 139.52, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37. The company has a quick ratio of 1.95, a current ratio of 2.77 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.42. The firm had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The company's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.39 EPS. Equities research analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Insider Activity

In related 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 transaction of $101,630.50. Following the sale, the director now owns 7,597 shares of the company's stock, valued at $532,473.73. The trade was a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

QRVO has been the topic of several recent research reports. Wall Street Zen lowered shares of Qorvo from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Benchmark raised shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Wednesday, April 30th. Citigroup reaffirmed a "sell" rating on shares of Qorvo in a report on Tuesday, June 10th. Needham & Company LLC reduced their target price on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, TD Cowen reduced their target price on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.