Kestra Investment Management LLC Grows Position in Qorvo, Inc. (NASDAQ:QRVO)

Kestra Investment Management LLC boosted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 33.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,569 shares of the semiconductor company’s stock after acquiring an additional 2,166 shares during the quarter. Kestra Investment Management LLC’s holdings in Qorvo were worth $599,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its holdings in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the period. Verdence Capital Advisors LLC grew its stake in Qorvo by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after buying an additional 140 shares during the period. Narwhal Capital Management grew its stake in Qorvo by 7.7% during the third quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company’s stock worth $231,000 after buying an additional 160 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Qorvo by 1.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,702 shares of the semiconductor company’s stock worth $1,002,000 after buying an additional 176 shares during the period. Finally, Martingale Asset Management L P grew its stake in Qorvo by 1.0% during the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after buying an additional 181 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QRVO has been the subject of several research reports. Bank of America decreased their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Citigroup reduced their target price on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Finally, Susquehanna reduced their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo Stock Up 2.4 %

QRVO stock opened at $77.96 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The firm has a fifty day moving average price of $76.22 and a two-hundred day moving average price of $87.48. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 278.43, a PEG ratio of 15.38 and a beta of 1.41.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Qorvo Company 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.