Alexander Randolph Advisory Inc. Invests $1.53 Million in Qorvo, Inc. (NASDAQ:QRVO)

Alexander Randolph Advisory Inc. acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 13,576 shares of the semiconductor company's stock, valued at approximately $1,529,000. Qorvo comprises 1.4% of Alexander Randolph Advisory Inc.'s investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC lifted its position in Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company's stock worth $369,091,000 after acquiring an additional 3,347,972 shares during the last quarter. Invesco Ltd. lifted its position in Qorvo by 18.9% during the 3rd quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company's stock worth $189,964,000 after acquiring an additional 316,328 shares during the last quarter. UBS Group AG lifted its position in Qorvo by 491.9% during the 3rd quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company's stock worth $120,987,000 after acquiring an additional 1,053,157 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Qorvo by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 893,122 shares of the semiconductor company's stock worth $85,266,000 after acquiring an additional 5,462 shares during the last quarter. Finally, FMR LLC lifted its position in Qorvo by 7.6% during the 3rd quarter. FMR LLC now owns 680,516 shares of the semiconductor company's stock worth $64,969,000 after acquiring an additional 48,125 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Insider Activity at Qorvo

In related news, SVP Steven E. Creviston sold 3,000 shares of the firm's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares of the company's stock, valued at $9,306,240. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares of the company's stock, valued at approximately $2,102,388. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company's stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,381 shares of company stock valued at $745,434. Corporate insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

QRVO has been the subject of a number of research analyst reports. Piper Sandler cut their price objective on shares of Qorvo from $120.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, February 1st. Needham & Company LLC reiterated a "buy" rating and set a $125.00 target price on shares of Qorvo in a research report on Thursday, February 1st. The Goldman Sachs Group increased their price objective on shares of Qorvo from $104.00 to $117.00 and gave the company a "neutral" rating in a report on Thursday, February 1st. Craig Hallum increased their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities increased their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Qorvo currently has an average rating of "Hold" and a consensus target price of $111.53.

Qorvo Stock Up 1.8 %

Qorvo stock traded up $2.05 during mid-day trading on Friday, reaching $116.75. The company's stock had a trading volume of 1,042,948 shares, compared to its average volume of 1,018,319. The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of -54.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.56. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65. The business's 50 day simple moving average is $113.61 and its 200 day simple moving average is $105.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.47. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. As a group, research analysts anticipate that Qorvo, Inc. will post 4.95 earnings per share for the current year.

Qorvo Company 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.