Daiwa Securities Group Inc. increased its holdings in Qorvo, Inc. (NASDAQ:QRVO – Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,600 shares of the semiconductor company’s stock after buying an additional 372 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Qorvo were worth $772,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. raised its position in Qorvo by 267.8% in the fourth quarter. Ronald Blue Trust Inc. now owns 320 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 233 shares during the period. Parkside Financial Bank & Trust raised its holdings in Qorvo by 106.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 116 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Qorvo during the fourth quarter valued at $34,000. International Assets Investment Management LLC bought a new stake in Qorvo during the first quarter valued at about $40,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Qorvo in the first quarter worth about $45,000. 87.18% of the stock is currently owned by institutional investors.
Qorvo Price Performance
Qorvo stock opened at $109.49 on Friday. Qorvo, Inc. has a 52-week low of $75.38 and a 52-week high of $114.59. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 119.01, a PEG ratio of 2.75 and a beta of 1.42. The firm’s fifty day moving average is $101.57 and its 200 day moving average is $99.85. The company has a quick ratio of 2.22, a current ratio of 3.65 and a debt-to-equity ratio of 0.52.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on QRVO shares. KGI Securities raised Qorvo from a “neutral” rating to an “outperform” rating in a research report on Tuesday, May 9th. Needham & Company LLC upped their price target on shares of Qorvo from $130.00 to $140.00 in a research report on Thursday, May 4th. Susquehanna raised their price objective on shares of Qorvo from $100.00 to $105.00 in a research report on Thursday, May 4th. StockNews.com assumed coverage on shares of Qorvo in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus assumed coverage on Qorvo in a research note on Wednesday, April 5th. They issued a “hold” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus price target of $110.00.
Insider Transactions at Qorvo
In other Qorvo news, CEO Robert A. Bruggeworth sold 17,063 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $90.73, for a total transaction of $1,548,125.99. Following the transaction, the chief executive officer now owns 190,024 shares in the company, valued at $17,240,877.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $100.00, for a total value of $300,000.00. Following the sale, the senior vice president now owns 75,891 shares in the company, valued at $7,589,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert A. Bruggeworth sold 17,063 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $90.73, for a total transaction of $1,548,125.99. Following the sale, the chief executive officer now directly owns 190,024 shares of the company’s stock, valued at $17,240,877.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,585 shares of company stock worth $3,309,703. 0.43% of the stock is currently owned by company insiders.
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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