Xponance Inc. Sells 3,692 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Xponance Inc. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 28.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,401 shares of the semiconductor company’s stock after selling 3,692 shares during the quarter. Xponance Inc.’s holdings in Qorvo were worth $657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alexander Randolph Advisory Inc. boosted its holdings in shares of Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after acquiring an additional 140 shares during the period. Martingale Asset Management L P lifted its holdings in shares of Qorvo by 1.0% during the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after acquiring an additional 181 shares during the period. Truvestments Capital LLC boosted its position in shares of Qorvo by 7.2% during the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock worth $194,000 after acquiring an additional 185 shares in the last quarter. Larson Financial Group LLC increased its stake in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Qorvo by 0.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock valued at $2,876,000 after purchasing an additional 215 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QRVO. Stifel Nicolaus decreased their price target 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 boosted their target price on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup reduced 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 upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Finally, The Goldman Sachs Group cut their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. 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’s stock. Based on data from MarketBeat, Qorvo currently has an average rating of “Hold” and an average target price of $95.84.

Qorvo Stock Up 3.7 %

Qorvo stock opened at $75.63 on Wednesday. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 270.11, a PEG ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 52-week low of $64.54 and a 52-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 firm has a 50 day moving average price of $77.22 and a two-hundred day moving average price of $80.98.

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.