Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 66.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,953 shares of the semiconductor company's stock after selling 103,941 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of Qorvo worth $3,704,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QRVO. Mediolanum International Funds Ltd purchased a new position in shares of Qorvo in the 4th quarter worth $1,177,000. Janney Montgomery Scott LLC increased its position in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after purchasing an additional 10,405 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Qorvo by 16.3% in the 4th quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock worth $45,429,000 after purchasing an additional 91,120 shares during the period. Raymond James Financial Inc. bought a new stake in Qorvo during the fourth quarter valued at approximately $1,327,000. Finally, F&V Capital Management LLC increased its holdings in Qorvo by 3.7% during the fourth quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company's stock valued at $6,541,000 after buying an additional 3,335 shares during the last quarter. Institutional investors own 88.57% of the company's stock.

Qorvo Trading Up 1.4 %

NASDAQ:QRVO traded up $0.99 during midday trading on Wednesday, hitting $71.30. The stock had a trading volume of 1,805,439 shares, compared to its average volume of 2,161,994. 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 stock has a 50-day moving average of $66.32 and a 200 day moving average of $72.44. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 254.64, a PEG ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $850.13 million. During the same quarter last year, the firm posted $1.39 EPS. The company's revenue for the quarter was down 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Benchmark upgraded Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their target price on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Citigroup reduced their price objective on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research note on Wednesday, January 29th. Finally, Mizuho lifted their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Qorvo presently has a consensus rating of "Hold" and a consensus target price of $91.21.

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.