Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 28.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,621 shares of the semiconductor company’s stock after selling 15,179 shares during the quarter. Wells Fargo & Company MN’s holdings in Qorvo were worth $2,631,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Qorvo in the 3rd quarter valued at approximately $1,211,000. Wilmington Savings Fund Society FSB purchased a new position in Qorvo in the 3rd quarter valued at $200,000. Tidal Investments LLC increased its stake in Qorvo by 188.1% in the 3rd quarter. Tidal Investments LLC now owns 37,729 shares of the semiconductor company’s stock valued at $3,897,000 after buying an additional 24,635 shares during the period. Franklin Resources Inc. raised its position in Qorvo by 43.2% during the 3rd quarter. Franklin Resources Inc. now owns 52,814 shares of the semiconductor company’s stock worth $5,523,000 after buying an additional 15,925 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Qorvo in the 3rd quarter worth $1,616,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Barclays reiterated a “reduce” rating on shares of Qorvo in a research report on Tuesday. Mizuho boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $94.79.

Qorvo Stock Performance

Shares of NASDAQ 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 company has a market cap of $5.93 billion, a PE ratio of 226.82, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The company has a 50-day simple moving average of $67.59 and a 200-day simple moving average of $74.59. 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.