Daiwa Securities Group Inc. Reduces Stake in Qorvo, Inc. (NASDAQ:QRVO)

Daiwa Securities Group Inc. reduced its position in Qorvo, Inc. (NASDAQ:QRVO) by 62.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,367 shares of the semiconductor company’s stock after selling 12,075 shares during the period. Daiwa Securities Group Inc.’s holdings in Qorvo were worth $515,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mediolanum International Funds Ltd purchased a new position in Qorvo in the 4th quarter valued at approximately $1,177,000. Janney Montgomery Scott LLC increased its stake in 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 purchasing an additional 10,405 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Qorvo in the 3rd quarter valued at approximately $2,507,000. Quest Partners LLC increased its position in Qorvo by 504.6% during the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock worth $1,198,000 after buying an additional 9,678 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Qorvo during the third quarter worth $1,211,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

QRVO stock opened at $71.39 on Monday. The stock has a 50-day moving average price of $77.18 and a two-hundred day moving average price of $82.84. 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 cap of $6.67 billion, a PE ratio of 254.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48.

Analyst Ratings Changes

Several research firms have weighed in on QRVO. Barclays dropped their price target on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Mizuho raised their price target on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. The Goldman Sachs Group dropped their price target on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Citigroup dropped their price target on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.