Stephens Inc. AR Increases Position in Qorvo, Inc. (NASDAQ:QRVO)

Stephens Inc. AR increased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 4.5% in the 4th quarter, Holdings Channel reports. The fund owned 8,300 shares of the semiconductor company’s stock after buying an additional 358 shares during the quarter. Stephens Inc. AR’s holdings in Qorvo were worth $580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QRVO. Exchange Traded Concepts LLC grew its position in Qorvo by 3,564.8% in the third quarter. Exchange Traded Concepts LLC now owns 2,602 shares of the semiconductor company’s stock worth $269,000 after acquiring an additional 2,531 shares in the last quarter. Creative Planning grew its position in Qorvo by 14.4% in the third quarter. Creative Planning now owns 11,151 shares of the semiconductor company’s stock worth $1,152,000 after acquiring an additional 1,400 shares in the last quarter. Bleakley Financial Group LLC grew its position in Qorvo by 12.2% in the third quarter. Bleakley Financial Group LLC now owns 2,357 shares of the semiconductor company’s stock worth $243,000 after acquiring an additional 256 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Qorvo by 1.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,702 shares of the semiconductor company’s stock worth $1,002,000 after acquiring an additional 176 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in Qorvo by 5.0% in the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 107 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on QRVO. Benchmark reissued a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Susquehanna lowered their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Bank of America lowered their price target on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.84.

Qorvo Price Performance

QRVO stock opened at $76.16 on Friday. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The company has a market cap of $7.11 billion, a P/E ratio of 272.00, a PEG ratio of 15.93 and a beta of 1.41. The firm has a 50-day moving average of $75.90 and a 200 day moving average of $88.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

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.