Qorvo, Inc. (NASDAQ:QRVO) Holdings Lowered by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 57.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,194 shares of the semiconductor company's stock after selling 82,285 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Qorvo worth $4,322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QRVO. Cerity Partners LLC lifted its stake in shares of Qorvo by 20.7% in the third quarter. Cerity Partners LLC now owns 8,020 shares of the semiconductor company's stock worth $828,000 after acquiring an additional 1,373 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Qorvo by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 565,023 shares of the semiconductor company's stock worth $58,367,000 after purchasing an additional 2,382 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Qorvo by 13.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 4,145 shares of the semiconductor company's stock valued at $428,000 after purchasing an additional 500 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Qorvo during the 3rd quarter valued at approximately $226,000. Finally, Centiva Capital LP grew its position in shares of Qorvo by 338.0% during the third quarter. Centiva Capital LP now owns 13,696 shares of the semiconductor company's stock worth $1,415,000 after buying an additional 10,569 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on QRVO shares. Citigroup cut their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a report on Wednesday, January 29th. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and upped their target price for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Mizuho lifted their price target on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Barclays lowered their price objective on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Finally, StockNews.com raised Qorvo from a "hold" rating to a "buy" rating 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $95.84.

Qorvo Stock Performance

Shares of QRVO traded down $11.55 during mid-day trading on Thursday, reaching $61.09. 3,452,066 shares of the company's stock traded hands, compared to its average volume of 2,017,614. 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 business's 50-day moving average price is $75.56 and its 200-day moving average price is $79.63. The stock has a market capitalization of $5.71 billion, a P/E ratio of 218.18, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 12 month low of $60.55 and a 12 month high of $130.99.

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.