Oak Associates Ltd. OH Decreases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Oak Associates Ltd. OH decreased its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 65.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,007 shares of the semiconductor company's stock after selling 65,000 shares during the quarter. Oak Associates Ltd. OH's holdings in Qorvo were worth $2,448,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in shares of Qorvo during the 4th quarter valued at about $28,000. Huntington National Bank lifted its holdings in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Qorvo during the fourth quarter worth about $37,000. Versant Capital Management Inc lifted its stake 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 in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Qorvo by 67.4% during the fourth 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 period. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Performance

QRVO traded down $0.35 during trading hours on Wednesday, hitting $57.46. The stock had a trading volume of 473,384 shares, compared to its average volume of 2,115,019. The stock 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. 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 company's fifty day simple moving average is $70.09 and its 200 day simple moving average is $76.47. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $130.99.

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Analyst Ratings Changes

QRVO has been the topic of a number of recent analyst reports. Mizuho increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Morgan Stanley upgraded Qorvo from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Citigroup lowered their price target 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. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company 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.