Xponance Inc. Sells 3,692 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Xponance Inc. reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 28.2% in the fourth quarter, HoldingsChannel reports. The firm owned 9,401 shares of the semiconductor company’s stock after selling 3,692 shares during the period. Xponance Inc.’s holdings in Qorvo were worth $657,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners increased its stake in Qorvo by 17.8% in the fourth quarter. Boston Partners now owns 110,709 shares of the semiconductor company’s stock valued at $7,754,000 after purchasing an additional 16,735 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Qorvo by 27.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,067,065 shares of the semiconductor company’s stock worth $74,620,000 after acquiring an additional 231,729 shares in the last quarter. Kennondale Capital Management LLC bought a new stake in shares of Qorvo during the fourth quarter valued at approximately $838,000. Brandes Investment Partners LP raised its position in shares of Qorvo by 13.0% during the fourth quarter. Brandes Investment Partners LP now owns 306,618 shares of the semiconductor company’s stock worth $21,442,000 after purchasing an additional 35,318 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Qorvo by 10.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,635 shares of the semiconductor company’s stock worth $604,000 after purchasing an additional 827 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Trading Up 3.7 %

Shares of QRVO stock opened at $75.63 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a market cap of $7.06 billion, a P/E ratio of 270.11, a PEG ratio of 15.57 and a beta of 1.48. The company has a 50 day moving average of $77.22 and a 200-day moving average of $80.98. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99.

Analysts Set New Price Targets

Several research analysts have weighed in on QRVO shares. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Barclays cut their price target on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Finally, Loop Capital lifted their target price on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and a consensus target price of $95.84.

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.