Huntington National Bank Has $78,000 Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Huntington National Bank boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) by 8,090.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 819 shares of the semiconductor company’s stock after buying an additional 809 shares during the period. Huntington National Bank’s holdings in Qorvo were worth $78,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of QRVO. Parkside Financial Bank & Trust raised its holdings in Qorvo by 106.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after buying an additional 116 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Qorvo by 75.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 306 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 132 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Qorvo in the fourth quarter valued at $34,000. International Assets Investment Management LLC bought a new position in shares of Qorvo in the first quarter valued at $40,000. Finally, RVW Wealth LLC bought a new position in shares of Qorvo in the third quarter valued at $53,000. 85.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Walden C. Rhines purchased 5,000 shares of Qorvo stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average price of $93.19 per share, for a total transaction of $465,950.00. Following the transaction, the director now owns 67,145 shares of the company’s stock, valued at approximately $6,257,242.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Walden C. Rhines purchased 5,000 shares of Qorvo stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average price of $93.19 per share, for a total transaction of $465,950.00. Following the transaction, the director now owns 67,145 shares of the company’s stock, valued at approximately $6,257,242.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philip Chesley sold 10,580 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $97.72, for a total transaction of $1,033,877.60. Following the completion of the sale, the senior vice president now owns 29,539 shares in the company, valued at approximately $2,886,551.08. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ:QRVO opened at $112.32 on Monday. The company’s 50 day moving average price is $106.55 and its two-hundred day moving average price is $100.10. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $114.97. The firm has a market cap of $10.84 billion, a PE ratio of -52.24, a PEG ratio of 1.17 and a beta of 1.55. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43.

Analysts Set New Price Targets

Several research firms recently weighed in on QRVO. Needham & Company LLC reissued a “buy” rating and issued a $125.00 target price on shares of Qorvo in a research note on Thursday, February 1st. BMO Capital Markets decreased their target price on shares of Qorvo from $110.00 to $100.00 and set a “market perform” rating for the company in a research note on Friday, November 3rd. Susquehanna decreased their target price on shares of Qorvo from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Raymond James raised their price target on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, The Goldman Sachs Group raised their price target on Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.17.

Get Our Latest Report on QRVO

Qorvo Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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