180 Wealth Advisors LLC Buys 265 Shares of Qorvo, Inc. (NASDAQ:QRVO)

180 Wealth Advisors LLC increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,642 shares of the semiconductor company’s stock after buying an additional 265 shares during the period. 180 Wealth Advisors LLC’s holdings in Qorvo were worth $303,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Qorvo during the 4th quarter worth approximately $118,120,000. Balyasny Asset Management L.P. raised its stake in shares of Qorvo by 161.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 857,596 shares of the semiconductor company’s stock valued at $96,574,000 after buying an additional 529,309 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Qorvo by 119.4% during the 4th quarter. Panagora Asset Management Inc. now owns 580,929 shares of the semiconductor company’s stock valued at $65,418,000 after buying an additional 316,172 shares during the last quarter. KBC Group NV grew its stake in shares of Qorvo by 3,169.2% during the 4th quarter. KBC Group NV now owns 299,032 shares of the semiconductor company’s stock worth $33,674,000 after acquiring an additional 289,885 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Qorvo by 201.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 405,143 shares of the semiconductor company’s stock worth $45,623,000 after acquiring an additional 270,745 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on QRVO shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $105.00 price objective on shares of Qorvo in a report on Wednesday, June 12th. Susquehanna cut their price objective on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group cut their price target on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays cut their target price on Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $110.83.

Insiders Place Their Bets

In other Qorvo news, Director John R. Harding sold 941 shares of Qorvo stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the transaction, the director now directly owns 6,950 shares of the company’s stock, valued at $676,652. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Qorvo news, Director John R. Harding sold 941 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the completion of the sale, the director now directly owns 6,950 shares in the company, valued at $676,652. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert A. Bruggeworth sold 22,299 shares of Qorvo stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total value of $2,214,513.69. Following the completion of the transaction, the chief executive officer now owns 154,714 shares in the company, valued at approximately $15,364,647.34. The disclosure for this sale can be found here. Insiders sold a total of 45,372 shares of company stock valued at $4,517,858 over the last quarter. 0.43% of the stock is owned by corporate insiders.

Qorvo Stock Up 2.7 %

Shares of NASDAQ QRVO traded up $3.01 during mid-day trading on Friday, reaching $115.40. 420,689 shares of the company were exchanged, compared to its average volume of 1,344,638. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The company’s 50 day moving average price is $104.44 and its 200 day moving average price is $108.58.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The firm had revenue of $941.00 million during the quarter, compared to analyst estimates of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company’s revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, research analysts predict that Qorvo, Inc. will post 5.16 EPS for the current fiscal year.

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.