Guggenheim Capital LLC Has $1.48 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Guggenheim Capital LLC decreased its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,093 shares of the semiconductor company's stock after selling 12,409 shares during the period. Guggenheim Capital LLC's holdings in Qorvo were worth $1,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mediolanum International Funds Ltd acquired a new position in shares of Qorvo during the fourth quarter valued at $1,177,000. Janney Montgomery Scott LLC boosted its stake in Qorvo by 245.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock worth $1,024,000 after purchasing an additional 10,405 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Qorvo by 16.3% during the fourth quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock valued at $45,429,000 after buying an additional 91,120 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Qorvo in the 4th quarter valued at about $1,327,000. Finally, Virtu Financial LLC acquired a new stake in Qorvo during the third quarter valued at $1,211,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Trading Up 0.4 %

QRVO traded up $0.27 during trading on Friday, reaching $63.78. 988,983 shares of the company's stock were exchanged, compared to its average volume of 2,144,012. 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 fifty-two week low of $49.46 and a fifty-two week high of $130.99. The company's fifty day moving average price is $67.31 and its 200-day moving average price is $74.34. The firm has a market capitalization of $5.96 billion, a PE ratio of 227.79, a P/E/G ratio of 15.57 and a beta of 1.43.

Wall Street Analyst Weigh In

QRVO has been the subject of several recent research reports. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Mizuho raised their price target 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. Stifel Nicolaus lowered their price objective on Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Finally, Citigroup reduced their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $94.79.

Qorvo Company 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.