Vanguard Group Inc. Sells 717,424 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Vanguard Group Inc. lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,397,868 shares of the semiconductor company's stock after selling 717,424 shares during the period. Vanguard Group Inc. owned approximately 12.20% of Qorvo worth $797,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new stake in shares of Qorvo in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC raised its stake in 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 purchasing an additional 201 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Qorvo in the 4th quarter valued at $37,000. Versant Capital Management Inc grew its position in Qorvo by 89.7% in the 4th 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 last quarter. Finally, Venturi Wealth Management LLC grew its position in Qorvo by 67.4% in 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. Institutional investors and hedge funds own 88.57% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QRVO. The Goldman Sachs Group decreased their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Loop Capital upped their target price on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Barclays decreased their price target on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Stifel Nicolaus lowered 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. Three 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 company. Based on data from MarketBeat, Qorvo presently has an average rating of "Hold" and an average price target of $95.84.

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Qorvo Price Performance

NASDAQ QRVO traded up $0.45 during trading hours on Wednesday, reaching $72.68. 441,170 shares of the company's stock were exchanged, compared to its average volume of 2,000,620. The firm has a fifty day moving average of $76.44 and a 200-day moving average of $79.81. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The stock has a market cap of $6.79 billion, a PE ratio of 259.57, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

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.