Zhang Financial LLC Grows Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 boosted its holdings in shares of Qorvo by 11.8% in the 1st quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after purchasing an additional 699,968 shares during the last quarter. State Street Corp boosted its holdings in shares of Qorvo by 0.3% in the 1st quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock valued at $595,916,000 after purchasing an additional 16,097 shares during the last quarter. Barclays PLC boosted its holdings in shares of Qorvo by 646.2% in the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after purchasing an additional 3,347,972 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Qorvo by 0.3% in the 1st quarter. Geode Capital Management LLC now owns 2,151,025 shares of the semiconductor company’s stock valued at $217,996,000 after purchasing an additional 5,396 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $104.88 on Friday. 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, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The firm has a 50-day simple moving average of $113.74 and a 200 day simple moving average of $104.46. The company has a market cap of $10.13 billion, a PE ratio of -48.78, a P/E/G ratio of 0.83 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on QRVO shares. Craig Hallum lifted their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 1st. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. 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 report on Thursday, February 1st. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price objective on shares of Qorvo in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $111.53.

Insiders Place Their Bets

In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Qorvo news, VP Gina Harrison sold 354 shares of the company’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 $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,381 shares of company stock worth $745,434. Insiders own 0.43% of the company’s stock.

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.