Janney Montgomery Scott LLC Grows Position in Qorvo Inc (NASDAQ:QRVO)

Janney Montgomery Scott LLC grew its stake in shares of Qorvo Inc (NASDAQ:QRVO) by 11.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,615 shares of the semiconductor company’s stock after purchasing an additional 2,004 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Qorvo were worth $2,168,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Qorvo by 1.2% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 11,561 shares of the semiconductor company’s stock valued at $932,000 after purchasing an additional 134 shares during the period. MorganRosel Wealth Management LLC raised its holdings in shares of Qorvo by 2.5% during the second quarter. MorganRosel Wealth Management LLC now owns 6,103 shares of the semiconductor company’s stock valued at $675,000 after acquiring an additional 146 shares in the last quarter. CSat Investment Advisory L.P. raised its holdings in shares of Qorvo by 32.5% during the first quarter. CSat Investment Advisory L.P. now owns 620 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 152 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of Qorvo by 3.4% during the first quarter. Contravisory Investment Management Inc. now owns 4,936 shares of the semiconductor company’s stock valued at $398,000 after acquiring an additional 162 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Qorvo by 0.7% during the first quarter. Mutual of America Capital Management LLC now owns 23,618 shares of the semiconductor company’s stock valued at $1,904,000 after acquiring an additional 165 shares in the last quarter. 88.02% of the stock is owned by hedge funds and other institutional investors.

QRVO has been the subject of a number of recent analyst reports. Raymond James upped their target price on Qorvo from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on Qorvo from $108.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Benchmark increased their price objective on Qorvo from $127.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America reiterated a “buy” rating on shares of Qorvo in a report on Thursday, May 21st. Finally, UBS Group increased their price objective on Qorvo from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $121.36.

Qorvo stock opened at $128.15 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.08 and a quick ratio of 2.18. Qorvo Inc has a one year low of $67.54 and a one year high of $130.86. The stock has a market capitalization of $14.66 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.64 and a beta of 1.41. The business’s fifty day moving average is $112.02 and its 200 day moving average is $101.04.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.13 by $0.37. Qorvo had a return on equity of 16.10% and a net margin of 12.05%. The company had revenue of $787.50 million for the quarter, compared to analysts’ expectations of $729.91 million. During the same period last year, the firm posted $1.36 earnings per share. Qorvo’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that Qorvo Inc will post 4.73 EPS for the current fiscal year.

In other Qorvo news, VP Steven E. Creviston sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $102.76, for a total value of $205,520.00. Following the transaction, the vice president now directly owns 53,444 shares of the company’s stock, valued at $5,491,905.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 15,933 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $102.96, for a total value of $1,640,461.68. Following the completion of the transaction, the chief executive officer now directly owns 159,993 shares in the company, valued at $16,472,879.28. The disclosure for this sale can be found here. Insiders have sold 32,877 shares of company stock worth $3,409,446 over the last ninety days. 0.66% of the stock is currently owned by insiders.

Qorvo Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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