Hudson Portfolio Management LLC Cuts Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Hudson Portfolio Management LLC lowered its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,464 shares of the semiconductor company’s stock after selling 180 shares during the period. Hudson Portfolio Management LLC’s holdings in Qorvo were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of QRVO. Rakuten Securities Inc. purchased a new position in Qorvo in the 4th quarter worth approximately $28,000. Huntington National Bank increased its stake in shares of Qorvo by 47.1% in the fourth 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 period. SBI Securities Co. Ltd. bought a new stake in Qorvo during the 4th quarter valued at $37,000. Versant Capital Management Inc boosted its position in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in 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 acquiring an additional 250 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the subject of several recent analyst reports. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Benchmark reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Barclays cut their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Citigroup decreased their price objective on shares of 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 given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus price target of $95.84.

Qorvo Stock Performance

Shares of Qorvo stock opened at $56.27 on Friday. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $130.99. The firm’s 50-day moving average is $70.99 and its 200 day moving average is $77.11. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 200.96, a PEG ratio of 15.57 and a beta of 1.43. 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 Company 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.