994 Shares in Qorvo, Inc. (NASDAQ:QRVO) Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 4th quarter, HoldingsChannel reports. The fund purchased 994 shares of the semiconductor company’s stock, valued at approximately $70,000.

Several other hedge funds have also recently added to or reduced their stakes in QRVO. Mediolanum International Funds Ltd bought a new stake in Qorvo in the fourth quarter worth approximately $1,177,000. GDS Wealth Management bought a new stake in shares of Qorvo in the 3rd quarter valued at $2,171,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Qorvo by 78.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after acquiring an additional 236,590 shares during the period. Janney Montgomery Scott LLC boosted its stake in Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after acquiring an additional 10,405 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Qorvo in the third quarter worth $2,507,000. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on QRVO shares. Craig Hallum dropped their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Citigroup decreased their price objective on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. TD Cowen reduced their price target on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $95.84.

Qorvo Stock Performance

NASDAQ QRVO opened at $77.26 on Tuesday. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The company has a 50-day simple moving average of $75.30 and a 200 day simple moving average of $89.18. The company has a market capitalization of $7.22 billion, a PE ratio of 275.93, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60.

Insider Activity at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares in the company, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is 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.