Neuberger Berman Group LLC Lowers Stake in Qorvo, Inc. (NASDAQ:QRVO)

Neuberger Berman Group LLC lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 22.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,028 shares of the semiconductor company's stock after selling 27,305 shares during the quarter. Neuberger Berman Group LLC owned 0.10% of Qorvo worth $6,785,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Rakuten Securities Inc. acquired a new stake in shares of Qorvo during the 4th quarter valued at $28,000. Huntington National Bank boosted its position in Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Qorvo during the 4th quarter worth about $37,000. Versant Capital Management Inc lifted its position in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 286 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Qorvo by 67.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 250 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Stifel Nicolaus reduced their price target 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. Citigroup lowered their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Barclays decreased their target price on Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Finally, Loop Capital lifted their target price on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Three equities 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $95.84.

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Qorvo Price Performance

Shares of QRVO stock traded down $0.35 during mid-day trading on Wednesday, hitting $57.46. 473,384 shares of the stock were exchanged, compared to its average volume of 2,913,242. 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 fifty day moving average of $70.09 and a 200 day moving average of $76.47. The company has a market cap of $5.37 billion, a PE ratio of 205.21, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99.

About Qorvo

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.