Charles Schwab Investment Management Inc. cut its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 830,976 shares of the semiconductor company's stock after selling 110,958 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.89% of Qorvo worth $58,110,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of QRVO. Farther Finance Advisors LLC grew its holdings in Qorvo by 33.7% in the third 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 period. Alexander Randolph Advisory Inc. grew its holdings in shares of Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after buying an additional 140 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of Qorvo by 1.0% during the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company's stock valued at $1,969,000 after purchasing an additional 181 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 201 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Qorvo by 0.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company's stock valued at $2,876,000 after purchasing an additional 215 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have commented on QRVO. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Mizuho lifted their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group reduced their target price on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Finally, Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $95.84.
Get Our Latest Stock Report on Qorvo
Qorvo Trading Up 3.3 %
NASDAQ QRVO traded up $2.27 during trading on Friday, hitting $71.39. The company had a trading volume of 1,556,301 shares, compared to its average volume of 2,871,726. 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 one year low of $64.54 and a one year high of $130.99. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 254.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The company's fifty day moving average is $77.18 and its 200-day moving average is $83.05.
Qorvo Company Profile
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Free Report)
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.
Further Reading
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