Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,218 shares of the semiconductor company’s stock after selling 3,366 shares during the period. Pinebridge Investments L.P.’s holdings in Qorvo were worth $8,407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of QRVO. Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo in the fourth quarter valued at approximately $1,177,000. Janney Montgomery Scott LLC lifted its position in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock valued at $1,024,000 after buying an additional 10,405 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Qorvo by 16.3% in the 4th quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company’s stock valued at $45,429,000 after acquiring an additional 91,120 shares during the period. Raymond James Financial Inc. purchased a new stake in Qorvo in the 4th quarter worth $1,327,000. Finally, Virtu Financial LLC purchased a new stake in Qorvo in the 3rd quarter worth $1,211,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Up 6.0 %

Shares of QRVO opened at $63.51 on Friday. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $130.99. The firm has a market capitalization of $5.93 billion, a P/E ratio of 226.82, a P/E/G ratio of 15.57 and a beta of 1.43. The firm has a 50-day moving average price of $67.59 and a 200 day moving average price of $74.59. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stifel Nicolaus dropped their target price 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 reiterated a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. Piper Sandler raised 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 raised their target price on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Benchmark reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and a consensus price target of $94.79.

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.