Corient Private Wealth LLC Decreases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Corient Private Wealth LLC cut its stake in Qorvo, Inc. (NASDAQ:QRVO) by 27.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 13,931 shares of the semiconductor company’s stock after selling 5,198 shares during the quarter. Corient Private Wealth LLC’s holdings in Qorvo were worth $974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QRVO. Alexander Randolph Advisory Inc. increased its position in 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 purchasing an additional 140 shares during the last quarter. Martingale Asset Management L P increased 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 buying an additional 181 shares during the last quarter. Truvestments Capital LLC raised 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 valued at $194,000 after buying an additional 185 shares during the period. Larson Financial Group LLC lifted its holdings 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. grew its position in Qorvo by 0.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock worth $2,876,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Loop Capital increased their price target on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Mizuho upped their price target on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.84.

Qorvo Trading Down 1.7 %

Shares of NASDAQ:QRVO opened at $73.69 on Friday. The company has a market cap of $6.88 billion, a PE ratio of 263.18, a P/E/G ratio of 15.57 and a beta of 1.48. The company’s 50 day moving average is $77.24 and its two-hundred day moving average is $80.88. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. 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 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.