Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp cut its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 66.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,293 shares of the semiconductor company’s stock after selling 8,599 shares during the period. Cibc World Markets Corp’s holdings in Qorvo were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in QRVO. Mediolanum International Funds Ltd purchased a new stake in Qorvo in the fourth quarter valued at approximately $1,177,000. Janney Montgomery Scott LLC raised its holdings in shares of Qorvo by 245.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock valued at $1,024,000 after buying an additional 10,405 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Qorvo during the 3rd quarter worth about $2,507,000. Virtu Financial LLC purchased a new position in Qorvo during the 3rd quarter valued at about $1,211,000. Finally, Paloma Partners Management Co acquired a new position in Qorvo in the 3rd quarter valued at about $5,165,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Stock Up 1.5 %

Qorvo stock opened at $72.91 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The stock has a 50-day simple moving average of $77.16 and a 200-day simple moving average of $81.18. The company has a market capitalization of $6.81 billion, a P/E ratio of 260.39, a PEG ratio of 15.57 and a beta of 1.48.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several research reports. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Loop Capital raised their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Citigroup cut their price objective on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Barclays decreased their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Mizuho upped their price target on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.84.

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.