Wellington Management Group LLP Has $301,000 Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Wellington Management Group LLP reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 98.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,306 shares of the semiconductor company's stock after selling 316,475 shares during the quarter. Wellington Management Group LLP's holdings in Qorvo were worth $301,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of QRVO. Alexander Randolph Advisory Inc. lifted its position in Qorvo by 1.0% during the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after purchasing an additional 140 shares during the period. Truvestments Capital LLC boosted its stake in Qorvo by 7.2% in the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock valued at $194,000 after acquiring an additional 185 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Qorvo by 67.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 250 shares in the last quarter. Versant Capital Management Inc boosted its position in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 286 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Qorvo by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 37,038 shares of the semiconductor company's stock valued at $3,826,000 after purchasing an additional 310 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

QRVO has been the topic of several recent research reports. 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 Qorvo from a "neutral" rating to an "overweight" rating and increased their price target for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Stifel Nicolaus dropped their price objective on Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research note on Wednesday, January 29th. Loop Capital raised their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group cut their price target on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $95.84.

Qorvo Stock Performance

Shares of QRVO stock traded up $0.81 on Friday, hitting $57.63. The company's stock had a trading volume of 1,331,963 shares, compared to its average volume of 2,136,239. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The stock's 50 day moving average is $68.91 and its 200-day moving average is $75.55. The company has a market capitalization of $5.38 billion, a PE ratio of 205.82, a PEG ratio of 15.57 and a beta of 1.43.

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.