Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB trimmed its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,385 shares of the semiconductor company’s stock after selling 551 shares during the period. 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 hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in Qorvo by 7.1% during the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company’s stock valued at $157,920,000 after buying an additional 101,742 shares in the last quarter. KBC Group NV lifted its position in shares of Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after purchasing an additional 637,087 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Qorvo by 140.2% during the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after purchasing an additional 487,621 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Qorvo by 23.9% during the third quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company’s stock worth $83,429,000 after purchasing an additional 160,534 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Qorvo by 377.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock worth $57,125,000 after purchasing an additional 645,829 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on QRVO. Citigroup reduced their target price on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. UBS Group reduced their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Craig Hallum reduced their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Bank of America reduced their target price on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Stock Up 0.6 %

QRVO stock opened at $77.49 on Friday. 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, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The firm has a fifty day moving average price of $75.74 and a two-hundred day moving average price of $88.70. The firm has a market cap of $7.24 billion, a price-to-earnings ratio of 276.75, a PEG ratio of 15.93 and a beta of 1.41.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction 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 insiders.

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.