HighTower Advisors LLC Sells 45,388 Shares of Qorvo, Inc. (NASDAQ:QRVO)

HighTower Advisors LLC lessened its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 55.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,184 shares of the semiconductor company's stock after selling 45,388 shares during the quarter. HighTower Advisors LLC's holdings in Qorvo were worth $2,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QRVO. Larson Financial Group LLC lifted its holdings in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after buying an additional 201 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Qorvo during the fourth quarter valued at approximately $37,000. Versant Capital Management Inc lifted 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 acquiring an additional 286 shares during the last quarter. Venturi Wealth Management LLC increased its stake 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, CENTRAL TRUST Co lifted its stake in shares of Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

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Qorvo Trading Down 0.8 %

NASDAQ QRVO traded down $0.63 during trading on Wednesday, reaching $75.00. 1,572,108 shares of the stock traded hands, compared to its average volume of 1,915,889. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 267.86, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The stock's 50-day moving average price is $77.22 and its 200 day moving average price is $80.98.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group cut their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Citigroup reduced their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a report on Wednesday, January 29th. Loop Capital increased their price target on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Finally, Benchmark reiterated a "hold" rating on shares of Qorvo in a research note 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 data from MarketBeat, Qorvo presently has an average 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.