PNC Financial Services Group Inc. Sells 1,055 Shares of Qorvo, Inc. (NASDAQ:QRVO)

PNC Financial Services Group Inc. lowered its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 5.4% during the fourth quarter, Holdings Channel reports. The firm owned 18,477 shares of the semiconductor company’s stock after selling 1,055 shares during the period. PNC Financial Services Group Inc.’s holdings in Qorvo were worth $1,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC grew its stake in Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Qorvo in the 4th quarter valued at $37,000. Versant Capital Management Inc grew its stake in Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Qorvo by 67.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 250 shares during the last quarter. Finally, CENTRAL TRUST Co grew its stake in Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 734 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QRVO. Barclays decreased their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Stifel Nicolaus decreased their price target on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group decreased their price target on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.84.

Qorvo Trading Up 3.3 %

Shares of QRVO stock opened at $71.39 on Monday. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The company has a market capitalization of $6.67 billion, a P/E ratio of 254.96, a P/E/G ratio of 15.57 and a beta of 1.48. The firm has a 50-day moving average price of $77.18 and a 200 day moving average price of $82.84. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

About Qorvo

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.