Qorvo, Inc. (NASDAQ:QRVO) Stock Position Reduced by Calamos Advisors LLC

Calamos Advisors LLC cut its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,105 shares of the semiconductor company’s stock after selling 1,206 shares during the period. Calamos Advisors LLC owned about 0.10% of Qorvo worth $10,822,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in 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 acquiring an additional 116 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in Qorvo in the fourth quarter worth approximately $34,000. International Assets Investment Management LLC bought a new stake in Qorvo in the first quarter worth approximately $40,000. Providence Capital Advisors LLC grew its position in Qorvo by 10,057.1% in the first quarter. Providence Capital Advisors LLC now owns 5,688 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 5,632 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in Qorvo by 3,833.3% in the first quarter. Zions Bancorporation N.A. now owns 472 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 460 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Stock Performance

Shares of Qorvo stock opened at $104.88 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The company’s fifty day moving average price is $113.74 and its two-hundred day moving average price is $104.46. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $121.65.

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, beating the consensus estimate of $1.42 by $0.47. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. Analysts anticipate that Qorvo, Inc. will post 4.95 earnings per share for the current year.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 354 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the sale, the vice president now owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 value of $40,356.00. Following the sale, the vice president now owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $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 90 days. 0.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on QRVO. Piper Sandler decreased their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Barclays boosted their price objective on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Needham & Company LLC restated a “buy” rating and issued a $125.00 price objective on shares of Qorvo in a research note on Thursday, February 1st. Finally, Susquehanna restated a “neutral” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Monday, April 8th. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $111.53.

About Qorvo

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.