Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 52.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,699 shares of the semiconductor company’s stock after selling 184,526 shares during the quarter. First Trust Advisors LP’s holdings in Qorvo were worth $11,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Alexander Randolph Advisory Inc. lifted its stake in Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock valued at $950,000 after purchasing an additional 140 shares during the last quarter. Huntington National Bank increased its holdings in shares of Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of Qorvo by 7.2% during the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock valued at $194,000 after acquiring an additional 185 shares during the last quarter. Venturi Wealth Management LLC boosted 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 acquiring an additional 250 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 286 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 0.4 %

Qorvo stock opened at $63.78 on Monday. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The firm’s fifty day simple moving average is $67.31 and its 200-day simple moving average is $73.95. The company has a market capitalization of $5.96 billion, a P/E ratio of 227.79, a P/E/G ratio of 15.57 and a beta of 1.43.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QRVO. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Mizuho raised their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. Loop Capital lifted their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group reduced their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.