Asset Management One Co. Ltd. Sells 1,905 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Asset Management One Co. Ltd. cut its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,356 shares of the semiconductor company’s stock after selling 1,905 shares during the period. Asset Management One Co. Ltd.’s holdings in Qorvo were worth $2,311,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in shares of Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after buying an additional 286 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock worth $53,000 after buying an additional 734 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Qorvo during the 4th quarter valued at about $70,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Performance

QRVO opened at $78.89 on Thursday. 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 company has a market cap of $7.37 billion, a price-to-earnings ratio of 281.75, a PEG ratio of 15.38 and a beta of 1.41. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The firm’s fifty day simple moving average is $76.41 and its two-hundred day simple moving average is $87.42.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Susquehanna reduced their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Citigroup cut 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. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Three investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.84.

Insider Buying and Selling at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.46% of the company’s stock.

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.