Alexander Randolph Advisory Inc. Has $950,000 Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Alexander Randolph Advisory Inc. raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,592 shares of the semiconductor company’s stock after buying an additional 140 shares during the quarter. Qorvo accounts for 0.9% of Alexander Randolph Advisory Inc.’s portfolio, making the stock its 27th largest position. Alexander Randolph Advisory Inc.’s holdings in Qorvo were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in QRVO. Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo in the 4th quarter valued at approximately $1,177,000. GDS Wealth Management acquired a new stake in Qorvo during the 3rd quarter valued at $2,171,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after purchasing an additional 236,590 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Qorvo by 245.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after buying an additional 10,405 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Qorvo during the third quarter valued at $2,507,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the firm’s 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 directly owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays reduced their price objective on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Loop Capital increased their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group decreased their price target on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America dropped their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo Stock Down 1.3 %

QRVO opened at $76.07 on Friday. The firm has a market cap of $7.10 billion, a P/E ratio of 271.68, a price-to-earnings-growth ratio of 15.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The business has a 50 day moving average price of $76.69 and a 200 day moving average price of $87.04. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99.

Qorvo 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.