Plato Investment Management Ltd lowered its position in Qorvo, Inc. (NASDAQ:QRVO – Free Report) by 84.0% in the third quarter, HoldingsChannel reports. The firm owned 249 shares of the semiconductor company’s stock after selling 1,310 shares during the period. Plato Investment Management Ltd’s holdings in Qorvo were worth $26,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. grew its position in Qorvo by 5.6% in the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 96 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 107 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Finally, American Trust increased its holdings in Qorvo by 5.8% in the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 115 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Qorvo Stock Down 1.0 %
Qorvo stock opened at $65.61 on Friday. The company has a market capitalization of $6.20 billion, a P/E ratio of -44.94, a PEG ratio of 5.26 and a beta of 1.49. Qorvo, Inc. has a fifty-two week low of $65.35 and a fifty-two week high of $130.99. The stock has a 50-day simple moving average of $93.98 and a 200-day simple moving average of $104.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on QRVO shares. Piper Sandler decreased their price target on Qorvo from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Barclays dropped their price objective on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Susquehanna reduced their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley cut Qorvo from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $130.00 to $120.00 in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $102.88.
Read Our Latest Report on QRVO
Insider Buying and Selling
In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.
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.
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