Lake Street Advisors Group LLC Lowers Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Lake Street Advisors Group LLC lowered its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 24.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,271 shares of the semiconductor company’s stock after selling 1,049 shares during the period. Lake Street Advisors Group LLC’s holdings in Qorvo were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Qorvo by 3.7% in the 3rd 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 last quarter. Alexander Randolph Advisory Inc. raised its position in shares of Qorvo by 1.0% in the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after purchasing an additional 140 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Qorvo by 1.0% in the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after purchasing an additional 181 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Qorvo by 7.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,789 shares of the semiconductor company’s stock worth $280,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. Loop Capital lifted their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Citigroup reduced their price objective on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Finally, Stifel Nicolaus cut their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Three 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.84.

Qorvo Stock Up 2.4 %

Shares of QRVO opened at $72.69 on Friday. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 259.61, 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 current ratio of 2.60 and a quick ratio of 1.78. The business’s 50 day simple moving average is $77.04 and its 200-day simple moving average is $86.31. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the business’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 transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.