1,833 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. bought a new position in Qorvo, Inc. (NASDAQ:QRVO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,833 shares of the semiconductor company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QRVO. Highland Capital Management LLC increased its position in Qorvo by 48.9% in the 4th quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock worth $4,819,000 after buying an additional 14,060 shares during the period. SG Americas Securities LLC increased its position in Qorvo by 298.9% in the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock worth $2,005,000 after buying an additional 13,340 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Qorvo by 4.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,464 shares of the semiconductor company’s stock worth $808,000 after buying an additional 394 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in Qorvo in the 3rd quarter worth approximately $389,000. Finally, FMR LLC increased its position in Qorvo by 7.6% in the 3rd quarter. FMR LLC now owns 680,516 shares of the semiconductor company’s stock worth $64,969,000 after buying an additional 48,125 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Up 1.8 %

Shares of QRVO traded up $2.05 during trading hours on Friday, hitting $116.75. 1,042,948 shares of the stock traded hands, compared to its average volume of 1,018,319. 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, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65. The firm has a market capitalization of $11.27 billion, a PE ratio of -54.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.56. The business has a fifty day moving average of $113.52 and a 200-day moving average of $104.91.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on QRVO. Raymond James boosted their price objective on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Susquehanna restated a “neutral” rating and set a $100.00 price objective on shares of Qorvo in a research report on Monday, April 8th. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Qorvo in a research report on Thursday, February 1st. JPMorgan Chase & Co. boosted their price objective on Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Finally, Piper Sandler lowered their price objective on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $111.53.

Insider Activity

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

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.