Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 27.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,931 shares of the semiconductor company's stock after selling 5,198 shares during the quarter. Corient Private Wealth LLC's holdings in Qorvo were worth $974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QRVO. Rakuten Securities Inc. acquired a new position in shares of Qorvo during the fourth quarter worth $28,000. Larson Financial Group LLC grew its stake in Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after buying an additional 201 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Qorvo during the 4th quarter valued at about $37,000. Versant Capital Management Inc raised its stake 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 buying an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on QRVO. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. The Goldman Sachs Group decreased their price target on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Stifel Nicolaus dropped their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Barclays reduced their target price on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Finally, Benchmark reiterated a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $95.84.

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Qorvo Price Performance

Shares of Qorvo stock traded up $0.91 on Monday, hitting $72.41. The company's stock had a trading volume of 1,634,106 shares, compared to its average volume of 2,005,985. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 258.61, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The firm has a fifty day moving average price of $76.74 and a 200-day moving average price of $80.06. 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 1 year low of $64.54 and a 1 year high of $130.99.

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.