ING Groep NV trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,499 shares of the semiconductor company’s stock after selling 66 shares during the quarter. ING Groep NV’s holdings in Qorvo were worth $1,370,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital Asset Advisory Services LLC bought a new stake in shares of Qorvo during the 4th quarter valued at $30,000. Huntington National Bank increased its stake in shares of Qorvo by 172.5% in the first quarter. Huntington National Bank now owns 188 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 119 shares during the period. CENTRAL TRUST Co increased its stake in shares of Qorvo by 39.7% in the first quarter. CENTRAL TRUST Co now owns 190 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 54 shares during the period. Valley Brook Capital Group acquired a new stake in Qorvo during the fourth quarter worth approximately $33,000. Finally, Berman Capital Advisors LLC grew its stake in Qorvo by 85.2% during the first quarter. Berman Capital Advisors LLC now owns 226 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 104 shares during the period. 83.07% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ QRVO opened at $182.91 on Friday. The firm has a market capitalization of $20.59 billion, a P/E ratio of 28.80, a PEG ratio of 1.61 and a beta of 1.39. The firm’s fifty day simple moving average is $184.80. Qorvo, Inc. has a 1 year low of $104.57 and a 1 year high of $201.68. The company has a quick ratio of 2.90, a current ratio of 3.64 and a debt-to-equity ratio of 0.38.
Several brokerages have issued reports on QRVO. Barclays increased their price target on Qorvo from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, May 6th. Mizuho lifted their price target on Qorvo from $183.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, April 9th. Rosenblatt Securities raised their target price on Qorvo from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, May 6th. Needham & Company LLC lifted their price target on Qorvo from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. Finally, Citigroup reduced their price target on Qorvo from $188.00 to $170.00 and set a “neutral” rating for the company in a research report on Thursday, February 11th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Qorvo currently has an average rating of “Buy” and an average price target of $197.70.
In other news, CEO Robert A. Bruggeworth sold 555 shares of the company’s stock in a transaction that occurred on Friday, May 28th. The shares were sold at an average price of $185.28, for a total value of $102,830.40. Following the transaction, the chief executive officer now directly owns 164,700 shares in the company, valued at approximately $30,515,616. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP James L. Klein sold 1,910 shares of the company’s stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $168.78, for a total transaction of $322,369.80. Following the completion of the transaction, the vice president now owns 50,150 shares in the company, valued at $8,464,317. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,130 shares of company stock valued at $4,163,421. 0.66% of the stock is owned by corporate insiders.
Qorvo Company Profile
Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates in two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters and duplexers, antenna tuners, RF power management integrated circuits, multimode/multi-band PAs and transmit modules, antenna-plexers, discrete filters and duplexers, discrete switches, and UWB system solutions, as well as envelope tracking power management solutions, antenna control solutions, and UWB system solutions supporting secure, low power, location, and communication services.
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