Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 83.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,990 shares of the semiconductor company's stock after selling 19,562 shares during the quarter. Corebridge Financial Inc.'s holdings in Qorvo were worth $279,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Alexander Randolph Advisory Inc. grew its position in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock worth $950,000 after acquiring an additional 140 shares during the period. Truvestments Capital LLC grew its holdings in shares of Qorvo by 7.2% during the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock worth $194,000 after purchasing an additional 185 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Qorvo by 0.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company's stock worth $2,876,000 after purchasing an additional 215 shares during the period. Venturi Wealth Management LLC increased its position in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 250 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after buying an additional 286 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

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Qorvo Stock Down 1.9 %

Shares of NASDAQ:QRVO traded down $1.12 on Tuesday, hitting $57.81. 2,626,795 shares of the company's stock were exchanged, compared to its average volume of 2,117,628. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The company has a market capitalization of $5.40 billion, a PE ratio of 206.46, a P/E/G ratio of 15.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The firm's 50-day moving average is $70.51 and its 200 day moving average is $76.60.

Analyst Ratings Changes

A number of brokerages have weighed in on QRVO. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Citigroup cut their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research report on Wednesday, January 29th. Barclays lowered their price target on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Mizuho boosted their price objective on Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Finally, Stifel Nicolaus lowered their target price on Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have given 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 a consensus target price of $95.84.

About Qorvo

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.