D.A. Davidson & CO. Sells 1,065 Shares of Qorvo, Inc. (NASDAQ:QRVO)

D.A. Davidson & CO. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 24.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,205 shares of the semiconductor company’s stock after selling 1,065 shares during the quarter. D.A. Davidson & CO.’s holdings in Qorvo were worth $224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Qorvo by 320.0% during the fourth quarter. Principal Financial Group Inc. now owns 458,178 shares of the semiconductor company’s stock worth $32,040,000 after purchasing an additional 349,078 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Qorvo by 181.2% during the 4th quarter. Allworth Financial LP now owns 2,598 shares of the semiconductor company’s stock worth $182,000 after buying an additional 1,674 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Qorvo by 40.6% during the 4th quarter. Rhumbline Advisers now owns 252,286 shares of the semiconductor company’s stock worth $17,642,000 after buying an additional 72,911 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Qorvo during the 4th quarter worth $7,915,000. Finally, New York State Teachers Retirement System boosted its stake in Qorvo by 13.8% in the fourth quarter. New York State Teachers Retirement System now owns 99,784 shares of the semiconductor company’s stock valued at $6,978,000 after buying an additional 12,091 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction on 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 owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $70.96 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The company has a 50 day simple moving average of $77.04 and a two-hundred day simple moving average of $86.31. The company has a market capitalization of $6.63 billion, a PE ratio of 253.43, a P/E/G ratio of 15.57 and a beta of 1.41.

Analysts Set New Price Targets

Several brokerages have commented on QRVO. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. The Goldman Sachs Group decreased their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Three equities 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 company’s stock. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average price target of $95.84.

About Qorvo

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.