Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 245.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,641 shares of the semiconductor company's stock after buying an additional 10,405 shares during the quarter. Janney Montgomery Scott LLC's holdings in Qorvo were worth $1,024,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in QRVO. Assenagon Asset Management S.A. raised its stake in Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock valued at $57,125,000 after purchasing an additional 645,829 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock valued at $86,290,000 after purchasing an additional 487,621 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Qorvo by 78.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after buying an additional 236,590 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Qorvo in the 3rd quarter valued at $22,726,000. Finally, Van ECK Associates Corp grew its holdings in Qorvo by 23.9% in the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock valued at $83,429,000 after buying an additional 160,534 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Trading Down 2.4 %

Qorvo stock traded down $1.86 during midday trading on Friday, reaching $77.03. 2,507,842 shares of the stock traded hands, compared to its average volume of 3,590,921. The company has a 50-day simple moving average of $75.17 and a two-hundred day simple moving average of $89.69. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The firm has a market cap of $7.19 billion, a PE ratio of 275.11, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares of the company's stock, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QRVO has been the subject of several analyst reports. Craig Hallum dropped their target price on Qorvo from $142.00 to $105.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Loop Capital upped their target price on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Citigroup dropped their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a report on Wednesday, January 29th. Barclays dropped their target price on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Finally, BNP Paribas cut Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 target price for the company. in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $95.84.

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.