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

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

Several other hedge funds and other institutional investors have also bought and sold shares of QRVO. CWM LLC boosted its position in Qorvo by 6.3% during the 3rd quarter. CWM LLC now owns 3,022 shares of the semiconductor company’s stock valued at $288,000 after acquiring an additional 179 shares in the last quarter. Oak Thistle LLC boosted its position in Qorvo by 51.4% during the 3rd quarter. Oak Thistle LLC now owns 12,156 shares of the semiconductor company’s stock valued at $1,161,000 after acquiring an additional 4,125 shares in the last quarter. Czech National Bank boosted its position in Qorvo by 44.7% during the 3rd quarter. Czech National Bank now owns 17,113 shares of the semiconductor company’s stock valued at $1,634,000 after acquiring an additional 5,289 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in Qorvo during the 3rd quarter valued at $1,011,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Qorvo by 7.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 242,836 shares of the semiconductor company’s stock worth $23,184,000 after purchasing an additional 17,370 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, February 1st. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price objective on shares of Qorvo in a research report on Thursday, February 1st. Barclays raised their price objective on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Piper Sandler lowered their price objective on Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Finally, StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $111.53.

Insider Buying and Selling

In related news, SVP Paul J. Fego sold 3,027 shares of Qorvo 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 sale, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $3,386,370. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gina Harrison sold 354 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,381 shares of company stock worth $745,434. Insiders own 0.43% of the company’s stock.

Qorvo Price Performance

Shares of Qorvo stock traded up $2.05 on Friday, hitting $116.75. The company’s stock had a trading volume of 1,042,948 shares, compared to its average volume of 1,018,319. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The firm has a fifty day moving average price of $113.52 and a 200-day moving average price of $104.91. The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of -54.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

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.