LPL Financial LLC Lowers Holdings in Qorvo, Inc. (NASDAQ:QRVO)

LPL Financial LLC reduced its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,996 shares of the semiconductor company’s stock after selling 4,229 shares during the period. LPL Financial LLC’s holdings in Qorvo were worth $1,258,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in shares of Qorvo during the fourth quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in Qorvo during the 4th quarter worth $37,000. Versant Capital Management Inc increased its holdings 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 purchasing an additional 286 shares during the period. Venturi Wealth Management LLC increased its holdings in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares during the period. Finally, CENTRAL TRUST Co raised its position in Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 734 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Stock Up 1.4 %

Shares of NASDAQ:QRVO opened at $57.63 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock has a market cap of $5.38 billion, a P/E ratio of 205.82, a P/E/G ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The firm has a fifty day moving average price of $68.91 and a 200 day moving average price of $75.73.

Analysts Set New Price Targets

QRVO has been the topic of a number of recent research reports. Mizuho upped their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. The Goldman Sachs Group dropped their price objective 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. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Finally, Barclays cut their price target on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Three 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.84.

Qorvo Company 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.