Choreo LLC Cuts Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Choreo LLC lowered its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 62.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,023 shares of the semiconductor company's stock after selling 4,981 shares during the period. Choreo LLC's holdings in Qorvo were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of 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 buying an additional 104 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company's stock valued at $231,000 after acquiring an additional 107 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Qorvo by 3.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company's stock valued at $401,000 after purchasing an additional 140 shares during the last quarter. Narwhal Capital Management increased its holdings in shares of Qorvo by 7.7% in the 3rd quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company's stock worth $231,000 after purchasing an additional 160 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Qorvo by 1.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,702 shares of the semiconductor company's stock worth $1,002,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Qorvo Price Performance

Shares of NASDAQ QRVO traded up $0.94 during midday trading on Wednesday, reaching $78.90. The stock had a trading volume of 1,131,751 shares, compared to its average volume of 3,073,544. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The stock has a 50-day moving average of $76.22 and a 200-day moving average of $87.48. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 281.78, a price-to-earnings-growth ratio of 15.38 and a beta of 1.41.

Insiders Place Their Bets

In other news, SVP Philip Chesley sold 4,045 shares of the business'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 transaction, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on QRVO shares. Citigroup dropped their price objective on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research report on Wednesday, January 29th. TD Cowen dropped their price target on shares of Qorvo from $125.00 to $85.00 and set a "hold" rating on the stock in a report on Wednesday, October 30th. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $85.00 to $110.00 in a report on Monday, January 27th. Susquehanna lowered their price objective on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Finally, Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Three equities 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.