Vanguard Group Inc. Trims Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Vanguard Group Inc. lowered its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,397,868 shares of the semiconductor company’s stock after selling 717,424 shares during the period. Vanguard Group Inc. owned about 0.12% of Qorvo worth $797,053,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Cerity Partners LLC lifted its position in Qorvo by 20.7% during the 3rd quarter. Cerity Partners LLC now owns 8,020 shares of the semiconductor company’s stock valued at $828,000 after acquiring an additional 1,373 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Qorvo by 163.4% during the third 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. Bank of Montreal Can boosted its position in shares of Qorvo by 36.5% in the 3rd quarter. Bank of Montreal Can now owns 124,514 shares of the semiconductor company’s stock worth $12,900,000 after purchasing an additional 33,281 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Qorvo by 20.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 349,719 shares of the semiconductor company’s stock worth $36,126,000 after buying an additional 58,608 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Qorvo by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 565,023 shares of the semiconductor company’s stock valued at $58,367,000 after buying an additional 2,382 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

NASDAQ QRVO opened at $71.50 on Friday. The company has a 50-day moving average price of $76.98 and a 200-day moving average price of $80.48. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. 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 firm has a market capitalization of $6.68 billion, a P/E ratio of 255.36, a PEG ratio of 15.57 and a beta of 1.48.

Wall Street Analyst Weigh In

Several equities research analysts have commented on QRVO shares. Mizuho boosted their target price on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Loop Capital upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Barclays reduced their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group reduced their price target on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo has an average rating of “Hold” and an average 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.