Cetera Investment Advisers Purchases Shares of 3,118 Qorvo, Inc. (NASDAQ:QRVO)


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Cetera Investment Advisers purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,118 shares of the semiconductor company’s stock, valued at approximately $518,000.

Several other large investors have also recently made changes to their positions in QRVO. Amundi Pioneer Asset Management Inc. raised its stake in shares of Qorvo by 46.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 87,061 shares of the semiconductor company’s stock worth $6,244,000 after purchasing an additional 27,692 shares during the last quarter. First Allied Advisory Services Inc. purchased a new position in shares of Qorvo in the third quarter worth about $212,000. Morgan Stanley raised its stake in shares of Qorvo by 25.4% in the third quarter. Morgan Stanley now owns 313,043 shares of the semiconductor company’s stock worth $40,386,000 after purchasing an additional 63,486 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Qorvo by 7.9% in the third quarter. Advisors Asset Management Inc. now owns 12,154 shares of the semiconductor company’s stock worth $1,568,000 after purchasing an additional 885 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Qorvo in the third quarter worth about $2,555,000. Hedge funds and other institutional investors own 84.57% of the company’s stock.

Shares of NASDAQ:QRVO opened at $193.69 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.75. The business’s 50 day moving average price is $177.90 and its 200-day moving average price is $160.26. The firm has a market capitalization of $21.94 billion, a PE ratio of 50.97, a P/E/G ratio of 1.47 and a beta of 1.51. Qorvo, Inc. has a 1 year low of $80.80 and a 1 year high of $199.94.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, February 3rd. The semiconductor company reported $3.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.48 by $0.60. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Qorvo had a return on equity of 18.08% and a net margin of 12.71%. The business’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 earnings per share. As a group, analysts expect that Qorvo, Inc. will post 7.79 earnings per share for the current year.

Several analysts recently commented on the company. Mizuho raised their target price on Qorvo from $180.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Raymond James raised their target price on Qorvo from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, February 4th. Craig Hallum raised their target price on Qorvo from $160.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Citigroup dropped their target price on Qorvo from $188.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, February 11th. Finally, Benchmark raised their target price on Qorvo from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $178.09.

Qorvo Company Profile

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates in two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters and duplexers, antenna tuners, RF power management integrated circuits, multimode/multi-band PAs and transmit modules, antenna-plexers, discrete filters and duplexers, discrete switches, and UWB system solutions, as well as envelope tracking power management solutions, antenna control solutions, and UWB system solutions supporting secure, low power, location, and communication services.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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