Steward Partners Investment Advisory LLC Sells 594 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Steward Partners Investment Advisory LLC trimmed its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 17.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,781 shares of the semiconductor company’s stock after selling 594 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Qorvo were worth $194,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Alexander Randolph Advisory Inc. boosted its holdings in shares of Qorvo by 1.0% in the 4th 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 in the last quarter. Martingale Asset Management L P boosted its holdings in shares of Qorvo by 1.0% in the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after purchasing an additional 181 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Qorvo by 163.4% in the 3rd 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. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Qorvo by 0.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock worth $2,876,000 after purchasing an additional 215 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Qorvo by 67.4% in 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 in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on QRVO shares. Mizuho upped their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. The Goldman Sachs Group dropped their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $110.00 in a report on Monday, January 27th. Loop Capital increased their target price on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Citigroup dropped their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Stock Performance

NASDAQ QRVO opened at $71.39 on Friday. The stock’s fifty day moving average is $77.18 and its two-hundred day moving average is $83.05. The firm has a market capitalization of $6.67 billion, a P/E ratio of 254.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. 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.

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.