Institute for Wealth Management LLC. Decreases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Institute for Wealth Management LLC. reduced its position in Qorvo, Inc. (NASDAQ:QRVO) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,815 shares of the semiconductor company’s stock after selling 534 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Qorvo were worth $267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Qorvo in the third quarter worth about $41,000. Farther Finance Advisors LLC lifted its stake in Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares during the period. Versant Capital Management Inc boosted its holdings in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 286 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Qorvo by 33.8% during the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 186 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Trading Down 0.9 %

NASDAQ QRVO opened at $82.98 on Friday. The firm has a market cap of $7.84 billion, a PE ratio of 296.36, a P/E/G ratio of 6.89 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The firm’s fifty day moving average is $74.01 and its two-hundred day moving average is $91.21. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QRVO. Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday. UBS Group dropped their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Craig Hallum reduced their target price on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Wednesday. Finally, Mizuho increased their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $95.84.

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.