Jefferies Financial Group Inc. acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 93,211 shares of the semiconductor company’s stock, valued at approximately $10,671,000. Jefferies Financial Group Inc. owned 0.11% of Qorvo at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QRVO. Signaturefd LLC raised its stake in Qorvo by 4.7% during the 3rd quarter. Signaturefd LLC now owns 2,018 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 90 shares during the period. Sage Rhino Capital LLC lifted its holdings in Qorvo by 4.1% during the third quarter. Sage Rhino Capital LLC now owns 2,325 shares of the semiconductor company’s stock valued at $266,000 after purchasing an additional 92 shares in the last quarter. Wedmont Private Capital lifted its holdings in Qorvo by 1.6% during the second quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company’s stock valued at $879,000 after purchasing an additional 162 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Qorvo by 1.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,375 shares of the semiconductor company’s stock worth $2,104,000 after purchasing an additional 205 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Qorvo by 22.5% in the third quarter. Nisa Investment Advisors LLC now owns 1,385 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 254 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, SVP Steven Creviston sold 4,810 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total value of $485,184.70. Following the transaction, the senior vice president directly owned 119,451 shares of the company’s stock, valued at approximately $12,049,022.37. The trade was a 3.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Philip Chesley sold 5,487 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $534,982.50. Following the completion of the transaction, the senior vice president owned 44,021 shares of the company’s stock, valued at $4,292,047.50. The trade was a 11.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,309 shares of company stock worth $6,304,642 in the last quarter. 0.49% of the stock is owned by insiders.
Qorvo Stock Performance
NASDAQ:QRVO opened at $114.17 on Thursday. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $121.09. The stock has a 50-day moving average price of $113.55 and a 200 day moving average price of $94.69. The stock has a market capitalization of $10.07 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.98 and a beta of 1.42.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Citigroup lowered their target price on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $91.45.
Read Our Latest Stock Report on QRVO
About Qorvo
Qorvo, Inc. develops and supplies radio-frequency (RF) semiconductor components and solutions used to connect, power and protect electronic systems. Its products include RF amplifiers, filters, switches, tuners and integrated modules, as well as technologies for power management and wireless connectivity. The company serves markets that include mobile devices, network infrastructure, automotive, aerospace and defense, industrial applications and the Internet of Things. Its solutions are used in products ranging from smartphones and wireless networks to radar systems and connected devices, with customers and operations spanning global markets.
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