Guggenheim Capital LLC Trims Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Guggenheim Capital LLC lowered its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 37.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,093 shares of the semiconductor company's stock after selling 12,409 shares during the quarter. Guggenheim Capital LLC's holdings in Qorvo were worth $1,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new position in shares of Qorvo during the 4th quarter worth about $28,000. Huntington National Bank increased its stake in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Qorvo during the fourth quarter worth approximately $37,000. Versant Capital Management Inc raised its holdings in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 286 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Price Performance

NASDAQ:QRVO traded up $0.27 during trading hours on Friday, hitting $63.78. The company's stock had a trading volume of 988,983 shares, compared to its average volume of 2,148,434. The company has a market capitalization of $5.96 billion, a PE ratio of 227.79, a PEG ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99. The business's 50-day moving average is $67.31 and its two-hundred day moving average is $73.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Barclays reissued a "reduce" rating on shares of Qorvo in a research report on Tuesday, April 22nd. Mizuho lifted their price target on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Finally, StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $94.79.

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.