Richardson Financial Services Inc. Has $175,000 Stake in Qorvo, Inc. (NASDAQ:QRVO)

Richardson Financial Services Inc. lessened its position in Qorvo, Inc. (NASDAQ:QRVO) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,515 shares of the semiconductor company’s stock after selling 803 shares during the period. Richardson Financial Services Inc.’s holdings in Qorvo were worth $175,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 104 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Qorvo by 5.0% during the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock valued at $231,000 after acquiring an additional 107 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Qorvo by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 140 shares during the period. Narwhal Capital Management grew its stake in shares of Qorvo by 7.7% in the third quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 160 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Qorvo by 9.2% in the third quarter. GAMMA Investing LLC now owns 2,040 shares of the semiconductor company’s stock valued at $211,000 after purchasing an additional 172 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Down 0.9 %

Qorvo stock opened at $82.98 on Monday. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 296.36, a price-to-earnings-growth ratio of 6.89 and a beta of 1.40. The firm’s fifty day moving average price is $74.01 and its two-hundred day moving average price is $90.99. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.

Insider Activity at Qorvo

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Citigroup dropped their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Bank of America decreased their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, October 30th. Finally, Loop Capital boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.