Qorvo, Inc. (NASDAQ:QRVO) Stock Position Cut by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 28.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,385 shares of the semiconductor company’s stock after selling 551 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Qorvo were worth $97,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Golden State Wealth Management LLC bought a new position in Qorvo in the 4th quarter valued at about $70,000. State of Alaska Department of Revenue grew its position in Qorvo by 179.7% in the 4th quarter. State of Alaska Department of Revenue now owns 53,722 shares of the semiconductor company’s stock valued at $3,756,000 after buying an additional 34,516 shares in the last quarter. Yousif Capital Management LLC grew its position in Qorvo by 181.9% in the 4th quarter. Yousif Capital Management LLC now owns 38,158 shares of the semiconductor company’s stock valued at $2,668,000 after buying an additional 24,620 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Qorvo by 18.8% in the 4th quarter. Ninety One UK Ltd now owns 671,427 shares of the semiconductor company’s stock valued at $46,953,000 after acquiring an additional 106,090 shares during the last quarter. Finally, F&V Capital Management LLC lifted its holdings in Qorvo by 3.7% in the 4th quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company’s stock valued at $6,541,000 after acquiring an additional 3,335 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was 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. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

QRVO has been the subject of a number of research analyst reports. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Benchmark reissued a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. TD Cowen cut their price target on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. BNP Paribas downgraded shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target for the company. in a report on Wednesday, October 30th. Finally, UBS Group cut their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $95.84.

Qorvo Price Performance

Shares of QRVO opened at $77.49 on Friday. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 276.75, a P/E/G ratio of 15.93 and a beta of 1.41. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. 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 business’s 50-day moving average is $75.74 and its 200-day moving average is $88.70.

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.