Qorvo, Inc. (NASDAQ:QRVO) Position Trimmed by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 22.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 97,028 shares of the semiconductor company’s stock after selling 27,305 shares during the quarter. Neuberger Berman Group LLC’s holdings in Qorvo were worth $6,785,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mediolanum International Funds Ltd acquired a new position in shares of Qorvo in the 4th quarter worth $1,177,000. Janney Montgomery Scott LLC increased its stake in Qorvo by 245.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after purchasing an additional 10,405 shares in the last quarter. JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in Qorvo during the 4th quarter worth about $1,327,000. Finally, Virtu Financial LLC purchased a new stake in Qorvo during the third quarter valued at about $1,211,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

NASDAQ QRVO opened at $55.12 on Friday. 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 market capitalization of $5.15 billion, a PE ratio of 196.86, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $130.99. The company has a 50 day moving average price of $71.50 and a two-hundred day moving average price of $77.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QRVO shares. Barclays dropped their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Citigroup lowered their price objective on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Finally, StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $95.84.

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.