Pzena Investment Management LLC Sells 267 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Pzena Investment Management LLC decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 2,977 shares of the semiconductor company’s stock after selling 267 shares during the period. Pzena Investment Management LLC’s holdings in Qorvo were worth $208,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QRVO. Farther Finance Advisors LLC increased its stake in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Qorvo by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 109,100 shares of the semiconductor company’s stock valued at $11,270,000 after acquiring an additional 1,426 shares during the last quarter. SpiderRock Advisors LLC lifted its stake in shares of Qorvo by 5.4% in the 3rd quarter. SpiderRock Advisors LLC now owns 5,059 shares of the semiconductor company’s stock valued at $523,000 after purchasing an additional 259 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Qorvo by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 140 shares during the period. Finally, Atria Investments Inc increased its position in shares of Qorvo by 12.8% during the 3rd quarter. Atria Investments Inc now owns 2,584 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 293 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on QRVO shares. Loop Capital raised their price target on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Finally, Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Trading Down 4.1 %

Shares of NASDAQ:QRVO opened at $71.06 on Wednesday. The business’s fifty day simple moving average is $77.19 and its 200-day simple moving average is $83.75. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $6.64 billion, a PE ratio of 253.79, a P/E/G ratio of 15.57 and a beta of 1.48.

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.