Victory Capital Management Inc. Has $4.03 Million Stake in Qorvo, Inc. (NASDAQ:QRVO)

Victory Capital Management Inc. lessened its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,635 shares of the semiconductor company's stock after selling 28,523 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Qorvo worth $4,030,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd bought a new stake in Qorvo in the fourth quarter valued at $1,177,000. Janney Montgomery Scott LLC raised its stake in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after purchasing an additional 10,405 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Qorvo during the third quarter valued at about $2,507,000. Quest Partners LLC raised its stake in shares of Qorvo by 504.6% during the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company's stock valued at $1,198,000 after purchasing an additional 9,678 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Qorvo during the third quarter valued at about $1,211,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Up 1.0 %

NASDAQ:QRVO traded up $0.70 on Wednesday, hitting $72.72. 781,357 shares of the company's stock traded hands, compared to its average volume of 1,857,149. 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, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The firm has a 50-day moving average price of $77.17 and a 200-day moving average price of $82.25. The company has a market cap of $6.79 billion, a PE ratio of 258.93, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48.

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Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QRVO. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Citigroup dropped their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research report on Wednesday, January 29th. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus dropped their price target on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Qorvo has an average rating of "Hold" and a consensus price target 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.