Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 22.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,028 shares of the semiconductor company’s stock after selling 27,305 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.10% of Qorvo worth $6,785,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in QRVO. Alexander Randolph Advisory Inc. lifted its position in shares of Qorvo by 1.0% during the fourth 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 during the last quarter. Huntington National Bank lifted its holdings in Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock worth $32,000 after buying an additional 145 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Qorvo by 7.2% in the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock worth $194,000 after acquiring an additional 185 shares in the last quarter. Nomura Asset Management Co. Ltd. increased 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 valued at $2,876,000 after acquiring an additional 215 shares during the last quarter. Finally, Venturi Wealth Management LLC increased 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 valued at $43,000 after acquiring an additional 250 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Loop Capital raised their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Three research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $95.84.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $55.12 on Friday. The stock has a market cap of $5.15 billion, a P/E ratio of 196.86, a P/E/G ratio of 15.57 and a beta of 1.43. The firm’s 50-day simple moving average is $71.50 and its 200 day simple moving average is $77.43. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

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.