Golden State Wealth Management LLC Acquires New Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Golden State Wealth Management LLC purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 994 shares of the semiconductor company’s stock, valued at approximately $70,000.

A number of other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Qorvo during the 3rd quarter worth about $41,000. Farther Finance Advisors LLC boosted its holdings in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares during the period. Versant Capital Management Inc grew its holdings in Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Qorvo by 33.8% during the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock worth $76,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $85.00 to $110.00 in a research report on Monday, January 27th. The Goldman Sachs Group decreased their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Finally, Bank of America lowered their price objective on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average target price of $95.84.

Insider Buying and Selling

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 completion of the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at approximately $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 can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Trading Up 0.3 %

Shares of Qorvo stock opened at $77.26 on Tuesday. The firm’s 50 day moving average is $75.30 and its 200 day moving average is $89.18. The firm has a market capitalization of $7.22 billion, a PE ratio of 275.93, 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. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99.

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.