Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 62.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,367 shares of the semiconductor company's stock after selling 12,075 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Qorvo were worth $515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QRVO. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Qorvo by 315.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,616 shares of the semiconductor company's stock worth $6,197,000 after purchasing an additional 67,302 shares during the period. Amundi increased its holdings in Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after purchasing an additional 981,519 shares during the period. Andra AP fonden increased its holdings in Qorvo by 23.4% during the 4th quarter. Andra AP fonden now owns 185,154 shares of the semiconductor company's stock worth $12,948,000 after purchasing an additional 35,154 shares during the period. Edgestream Partners L.P. purchased a new position in Qorvo during the 4th quarter worth $639,000. Finally, Inceptionr LLC purchased a new position in Qorvo during the 4th quarter worth $423,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Stock Performance

QRVO traded up $0.18 on Thursday, reaching $72.36. 1,643,508 shares of the stock were exchanged, compared to its average volume of 1,860,959. The company's 50-day moving average price is $77.15 and its 200 day moving average price is $82.18. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week 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 firm has a market capitalization of $6.76 billion, a PE ratio of 258.43, a PEG ratio of 15.57 and a beta of 1.48.

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Analyst Upgrades and Downgrades

Several research analysts have commented on QRVO shares. Mizuho raised their price objective on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Piper Sandler raised Qorvo from a "neutral" rating to an "overweight" rating and increased their target price for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Finally, Loop Capital increased their target price on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Qorvo presently has a consensus rating of "Hold" and an average 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.