13,576 Shares in Qorvo, Inc. (NASDAQ:QRVO) Bought by Alexander Randolph Advisory Inc.

Alexander Randolph Advisory Inc. purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,576 shares of the semiconductor company’s stock, valued at approximately $1,529,000. Qorvo makes up 1.4% of Alexander Randolph Advisory Inc.’s portfolio, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QRVO. Huntington National Bank increased its stake in Qorvo by 8,090.0% in the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 809 shares during the period. GAMMA Investing LLC acquired a new position in Qorvo in the fourth quarter valued at $104,000. BluePath Capital Management LLC acquired a new position in Qorvo in the third quarter valued at $133,000. Allworth Financial LP increased its stake in Qorvo by 16.7% in the third quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 203 shares during the period. Finally, Wahed Invest LLC increased its stake in Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 108 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Rosenblatt Securities lifted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Susquehanna restated a “neutral” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Monday, April 8th. Raymond James boosted their price target on shares of Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Piper Sandler cut their price target on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Finally, Barclays increased their price target on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.53.

Insider Activity

In other news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now directly owns 77,552 shares in the company, valued at $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now directly owns 77,552 shares in the company, valued at $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares in the company, valued at $3,386,370. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock worth $745,434 over the last ninety days. 0.43% of the stock is currently owned by insiders.

Qorvo Price Performance

QRVO traded up $2.05 on Friday, hitting $116.75. 1,042,948 shares of the company were exchanged, compared to its average volume of 1,018,319. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. The business’s fifty day moving average is $113.61 and its 200 day moving average is $105.06. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The firm has a market capitalization of $11.27 billion, a P/E ratio of -54.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.42 by $0.47. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 4.95 EPS for the current year.

Qorvo 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.