Vontobel Holding Ltd. Decreases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Vontobel Holding Ltd. trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 20.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,590 shares of the semiconductor company’s stock after selling 4,691 shares during the quarter. Vontobel Holding Ltd.’s holdings in Qorvo were worth $2,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in QRVO. Parkside Financial Bank & Trust increased its stake in shares of Qorvo by 106.4% in the first 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. Resurgent Financial Advisors LLC purchased a new position in shares of Qorvo in the fourth quarter worth $34,000. International Assets Investment Management LLC purchased a new position in shares of Qorvo in the first quarter worth $40,000. RVW Wealth LLC purchased a new position in shares of Qorvo in the third quarter worth $53,000. Finally, Providence Capital Advisors LLC increased its position in Qorvo by 10,057.1% during the 1st quarter. Providence Capital Advisors LLC now owns 5,688 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 5,632 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Qorvo

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 transaction of $360,000.00. Following 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $40,356.00. Following 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $360,000.00. Following the sale, the senior vice president now directly 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 have sold 6,381 shares of company stock worth $745,434. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Needham & Company LLC reissued a “buy” rating and set a $125.00 price objective on shares of Qorvo in a research report on Thursday, February 1st. Susquehanna reissued a “neutral” rating and set a $100.00 price objective on shares of Qorvo in a research report on Monday, April 8th. Barclays boosted their price objective on shares of Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $111.53.

Qorvo Trading Down 1.9 %

Shares of Qorvo stock opened at $107.84 on Friday. The firm’s 50-day moving average is $113.89 and its 200 day moving average is $104.39. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1 billion. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. As a group, equities analysts anticipate that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal 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.