First Horizon Advisors Inc. Grows Holdings in Qorvo, Inc. (NASDAQ:QRVO)

First Horizon Advisors Inc. increased its position in Qorvo, Inc. (NASDAQ:QRVO) by 27.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,071 shares of the semiconductor company’s stock after acquiring an additional 232 shares during the quarter. First Horizon Advisors Inc.’s holdings in Qorvo were worth $195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Synovus Financial Corp purchased a new stake in Qorvo during the 1st quarter valued at approximately $467,000. CIBC World Markets Inc. grew its holdings in Qorvo by 87.9% during the 1st quarter. CIBC World Markets Inc. now owns 9,481 shares of the semiconductor company’s stock valued at $1,732,000 after buying an additional 4,435 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Qorvo by 34.1% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,956 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 497 shares in the last quarter. Samalin Investment Counsel LLC purchased a new stake in Qorvo during the 1st quarter valued at approximately $739,000. Finally, Berman Capital Advisors LLC grew its holdings in Qorvo by 85.2% during the 1st quarter. Berman Capital Advisors LLC now owns 226 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 104 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

In other Qorvo news, CEO Robert A. Bruggeworth sold 555 shares of Qorvo stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $185.28, for a total value of $102,830.40. Following the transaction, the chief executive officer now owns 164,700 shares in the company, valued at $30,515,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James L. Klein sold 1,910 shares of Qorvo stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $168.78, for a total value of $322,369.80. Following the completion of the transaction, the vice president now owns 50,150 shares in the company, valued at approximately $8,464,317. The disclosure for this sale can be found here. Insiders sold 24,130 shares of company stock worth $4,163,421 in the last quarter. 0.66% of the stock is owned by insiders.

QRVO has been the subject of a number of research analyst reports. Mizuho increased their price objective on shares of Qorvo from $183.00 to $215.00 and gave the company a “buy” rating in a report on Friday, April 9th. Craig Hallum increased their target price on Qorvo from $195.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. Barclays increased their target price on Qorvo from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, May 6th. Needham & Company LLC increased their target price on Qorvo from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. Finally, Wells Fargo & Company increased their target price on Qorvo from $205.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, May 6th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $197.70.

Shares of Qorvo stock opened at $182.91 on Friday. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 1.61 and a beta of 1.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.90 and a current ratio of 3.64. Qorvo, Inc. has a 12 month low of $104.57 and a 12 month high of $201.68. The company’s fifty day moving average price is $184.80.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, May 5th. The semiconductor company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.23 by $0.51. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. Qorvo had a return on equity of 23.45% and a net margin of 18.27%. As a group, research analysts forecast that Qorvo, Inc. will post 10.61 earnings per share for the current year.

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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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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