Bank of Montreal Can Sells 98,670 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Bank of Montreal Can lessened its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 79.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,844 shares of the semiconductor company's stock after selling 98,670 shares during the period. Bank of Montreal Can's holdings in Qorvo were worth $1,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Qorvo during the 4th quarter valued at about $71,825,000. Amundi increased its stake in shares of Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock valued at $156,673,000 after acquiring an additional 981,519 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Qorvo by 8,535.6% during the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock worth $65,153,000 after acquiring an additional 920,901 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Qorvo by 377.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock worth $57,125,000 after purchasing an additional 645,829 shares during the period. Finally, KBC Group NV increased its stake in Qorvo by 144.8% in the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after purchasing an additional 637,087 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Wall Street Analysts Forecast Growth

QRVO has been the subject of a number of research analyst reports. Citigroup decreased their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Benchmark restated a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Barclays dropped their price objective on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, The Goldman Sachs Group decreased their target price on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Three 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $95.84.

Qorvo Trading Down 1.7 %

NASDAQ:QRVO opened at $56.82 on Thursday. The company has a market cap of $5.31 billion, a P/E ratio of 202.93, a P/E/G ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $130.99. 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 stock's fifty day moving average price is $69.69 and its two-hundred day moving average price is $76.33.

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.

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