FFT Wealth Management LLC Acquires New Position in Qorvo, Inc. (NASDAQ:QRVO)

FFT Wealth Management LLC acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,416 shares of the semiconductor company's stock, valued at approximately $1,286,000.

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

Analyst Ratings Changes

Several analysts recently issued reports on QRVO shares. Barclays increased their price target on shares of Qorvo from $95.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 16th. Rosenblatt Securities boosted their price target on Qorvo from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, February 1st. Craig Hallum raised their price objective on Qorvo from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. lifted their target price on Qorvo from $95.00 to $105.00 and gave the stock an "underweight" rating in a research note on Thursday, February 1st. Finally, StockNews.com cut Qorvo from a "buy" rating to a "hold" rating in a research note on Thursday, February 8th. Two 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's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $111.53.

Insider Buying and Selling at Qorvo

In other news, SVP Steven E. Creviston sold 3,000 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was 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 Securities & Exchange Commission, which is accessible through this link. In other news, VP Gina Harrison sold 354 shares of the firm's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction 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 $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by insiders.

Qorvo Price Performance

NASDAQ:QRVO traded down $4.95 during mid-day trading on Wednesday, reaching $111.89. The stock had a trading volume of 2,941,134 shares, compared to its average volume of 1,278,736. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65. The stock has a market capitalization of $10.80 billion, a PE ratio of -52.42, a P/E/G ratio of 0.91 and a beta of 1.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The stock has a 50-day simple moving average of $113.84 and a two-hundred day simple moving average of $105.59.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.18. The company had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The firm's quarterly revenue was up 48.7% compared to the same quarter last year. During the same period last year, the company posted $0.11 EPS. On average, equities 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.

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