US Bancorp DE Decreases Stake in Qorvo, Inc. (NASDAQ:QRVO)

US Bancorp DE reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 24.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,930 shares of the semiconductor company’s stock after selling 636 shares during the period. US Bancorp DE’s holdings in Qorvo were worth $135,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in QRVO. Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo in the 4th quarter worth about $1,177,000. Janney Montgomery Scott LLC boosted its position in shares of Qorvo by 245.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after buying an additional 10,405 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Qorvo in the 3rd quarter worth about $2,507,000. Quest Partners LLC boosted its position in shares of Qorvo by 504.6% in the 3rd quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock worth $1,198,000 after buying an additional 9,678 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Qorvo in the 3rd quarter worth about $1,211,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group lowered their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $95.84.

Qorvo Stock Performance

Qorvo stock opened at $71.39 on Monday. The stock’s 50-day moving average is $77.18 and its 200-day moving average is $82.84. The company has a market cap of $6.67 billion, a price-to-earnings 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 current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99.

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.