Natixis Decreases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Natixis reduced its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 81.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,280 shares of the semiconductor company’s stock after selling 92,379 shares during the quarter. Natixis’ holdings in Qorvo were worth $1,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of QRVO. Rakuten Securities Inc. purchased a new position in shares of Qorvo in the 4th quarter worth about $28,000. Huntington National Bank raised its position in 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 acquiring an additional 145 shares during the period. SBI Securities Co. Ltd. purchased a new position in Qorvo in the fourth quarter valued at about $37,000. Versant Capital Management Inc grew its position in shares of 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 acquiring an additional 286 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Qorvo stock opened at $59.12 on Wednesday. The firm has a fifty day simple moving average of $68.17 and a two-hundred day simple moving average of $74.95. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99. The company has a market capitalization of $5.52 billion, a PE ratio of 211.14, a P/E/G ratio of 15.57 and a beta of 1.43. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

Analyst Ratings Changes

A number of analysts have issued reports on QRVO shares. Barclays reissued a “reduce” rating on shares of Qorvo in a research report on Tuesday. Loop Capital boosted their price objective on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. The Goldman Sachs Group reduced 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. Finally, Mizuho upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.79.

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.