Sei Investments Co. Decreases Stake in Qorvo, Inc. (NASDAQ:QRVO)

Sei Investments Co. reduced its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 50.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,400 shares of the semiconductor company's stock after selling 18,552 shares during the period. Sei Investments Co.'s holdings in Qorvo were worth $1,287,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Public Sector Pension Investment Board grew its position in Qorvo by 13.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,145 shares of the semiconductor company's stock worth $428,000 after acquiring an additional 500 shares during the last quarter. Investment Management Corp of Ontario increased its stake in shares of Qorvo by 46.2% in the third quarter. Investment Management Corp of Ontario now owns 3,164 shares of the semiconductor company's stock worth $327,000 after buying an additional 1,000 shares during the period. Point72 DIFC Ltd purchased a new stake in Qorvo during the 3rd quarter valued at $151,000. Royal London Asset Management Ltd. grew its holdings in Qorvo by 1.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 38,984 shares of the semiconductor company's stock worth $4,027,000 after acquiring an additional 436 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Qorvo by 19.1% in the third quarter. Quantinno Capital Management LP now owns 40,797 shares of the semiconductor company's stock valued at $4,214,000 after acquiring an additional 6,535 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of recent analyst reports. Piper Sandler raised Qorvo from a "neutral" rating to an "overweight" rating and upped their price target for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Citigroup decreased 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. Stifel Nicolaus cut 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. Mizuho upped their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Finally, Benchmark reaffirmed 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 assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $95.84.

Qorvo Trading Up 2.1 %

Shares of QRVO traded up $1.15 during midday trading on Friday, reaching $56.27. The company had a trading volume of 2,075,805 shares, compared to its average volume of 2,109,697. The firm has a 50 day simple moving average of $70.99 and a 200-day simple moving average of $77.11. 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 stock has a market cap of $5.26 billion, a PE ratio of 200.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99.

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.