Zhang Financial LLC Purchases 102 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Zhang Financial LLC increased its position in Qorvo, Inc. (NASDAQ:QRVO) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,852 shares of the semiconductor company’s stock after acquiring an additional 102 shares during the quarter. Zhang Financial LLC’s holdings in Qorvo were worth $434,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Qorvo by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock worth $1,513,630,000 after acquiring an additional 58,395 shares during the period. Baupost Group LLC MA grew its position in Qorvo by 11.8% in the 1st quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock worth $824,733,000 after purchasing an additional 699,968 shares during the last quarter. State Street Corp grew its position in Qorvo by 0.3% in the 1st quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock worth $595,916,000 after purchasing an additional 16,097 shares during the last quarter. Barclays PLC grew its position in Qorvo by 646.2% in the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after purchasing an additional 3,347,972 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Qorvo by 0.3% in the 1st quarter. Geode Capital Management LLC now owns 2,151,025 shares of the semiconductor company’s stock worth $217,996,000 after purchasing an additional 5,396 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction dated 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 directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the transaction, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gina Harrison sold 354 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was 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 directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock valued at $745,434 in the last ninety days. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on QRVO. Piper Sandler decreased their price target on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised their price target on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, February 1st. Rosenblatt Securities raised their price target on shares of 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 target on shares of Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $111.53.

Qorvo Trading Down 2.7 %

Shares of QRVO stock opened at $104.88 on Friday. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The company has a market capitalization of $10.13 billion, a P/E ratio of -48.78, a P/E/G ratio of 0.83 and a beta of 1.56. The firm has a 50-day moving average price of $113.74 and a 200 day moving average price of $104.46. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. Research analysts forecast that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal 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.