Vanguard Group Inc. Sells 405,098 Shares of Qorvo, Inc. $QRVO

Key Points

• Vanguard Group trimmed its stake in Qorvo by 3.6% in Q4, selling 405,098 shares and now owns 10,700,006 shares — about 11.58% of the company valued at roughly $904.3M.
• Other large institutions mostly increased positions (State Street, Dimensional, LSV, BofA, Woodline), leaving Qorvo with 88.57% institutional ownership.
• Qorvo shares trade near $93.50 with a market cap of $8.67B; analysts' consensus is a Hold with an average price target of $93.94 amid mixed ratings.

Vanguard Group Inc. trimmed its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,700,006 shares of the semiconductor company's stock after selling 405,098 shares during the period. Vanguard Group Inc. owned 11.58% of Qorvo worth $904,258,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its position in Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company's stock valued at $314,516,000 after buying an additional 175,031 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Qorvo by 16.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,727,103 shares of the semiconductor company's stock valued at $157,298,000 after buying an additional 243,147 shares in the last quarter. LSV Asset Management increased its position in Qorvo by 10.0% during the 3rd quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company's stock valued at $138,520,000 after buying an additional 137,886 shares in the last quarter. Bank of America Corp DE increased its position in Qorvo by 20.2% during the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company's stock valued at $128,975,000 after buying an additional 255,068 shares in the last quarter. Finally, Woodline Partners LP increased its position in Qorvo by 36.3% during the 3rd quarter. Woodline Partners LP now owns 1,217,407 shares of the semiconductor company's stock valued at $110,881,000 after buying an additional 324,466 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Stock Down 0.8%

Qorvo stock opened at $93.50 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.89 and a current ratio of 3.67. The business's 50-day simple moving average is $80.75 and its two-hundred day simple moving average is $83.93. The company has a market cap of $8.67 billion, a PE ratio of 25.76, a PEG ratio of 1.48 and a beta of 1.42. Qorvo, Inc. has a fifty-two week low of $69.03 and a fifty-two week high of $106.30.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research report on Wednesday, January 28th. Craig Hallum reduced their target price on Qorvo from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Wednesday, January 28th. KeyCorp reaffirmed a "sector weight" rating on shares of Qorvo in a research report on Wednesday, January 28th. Susquehanna reduced their target price on Qorvo from $95.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, January 22nd. Finally, Mizuho reaffirmed an "underperform" rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $93.94.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo's product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.