Qorvo, Inc. (NASDAQ:QRVO) Stock Holdings Reduced by AQR Capital Management LLC

AQR Capital Management LLC decreased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 242,908 shares of the semiconductor company's stock after selling 20,945 shares during the quarter. AQR Capital Management LLC owned about 0.26% of Qorvo worth $16,940,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. FIL Ltd raised its stake in Qorvo by 5.3% during the fourth quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company's stock worth $232,464,000 after purchasing an additional 166,461 shares during the period. Vulcan Value Partners LLC lifted its position in Qorvo by 53.7% during the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after buying an additional 902,353 shares in the last quarter. Amundi increased its position in shares of Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after acquiring an additional 981,519 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Qorvo by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock valued at $99,280,000 after acquiring an additional 264,167 shares during the period. Finally, KBC Group NV boosted its position in Qorvo by 144.8% during the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock worth $75,328,000 after purchasing an additional 637,087 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Qorvo news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the completion of the sale, the director now directly owns 7,597 shares in the company, valued at approximately $532,473.73. This trade represents a 16.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on QRVO. Loop Capital decreased their target price on Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Barclays upped their target price on shares of Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Piper Sandler raised Qorvo from a "neutral" rating to an "overweight" rating and increased their price target for the company from $85.00 to $110.00 in a report on Monday, January 27th. Finally, TD Cowen reduced their target price on Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $91.21.

Qorvo Trading Up 1.1 %

NASDAQ QRVO traded up $0.82 on Friday, hitting $73.19. 1,306,430 shares of the company were exchanged, compared to its average volume of 2,163,793. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99. The company's 50 day moving average price is $66.37 and its 200-day moving average price is $72.23. The firm has a market capitalization of $6.84 billion, a P/E ratio of 261.39, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The business had revenue of $869.47 million during the quarter, compared to the consensus estimate of $850.13 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The firm's quarterly revenue was down 7.6% on a year-over-year basis. Analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Qorvo Company 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.