Prudential Financial Inc. Has $28.01 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Prudential Financial Inc. trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 34.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,443 shares of the semiconductor company’s stock after selling 218,364 shares during the quarter. Prudential Financial Inc.’s holdings in Qorvo were worth $28,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QRVO. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Qorvo in the third quarter worth about $244,000. PNC Financial Services Group Inc. grew its stake in shares of Qorvo by 3.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 19,532 shares of the semiconductor company’s stock valued at $2,018,000 after purchasing an additional 639 shares during the period. Cerity Partners LLC grew its stake in shares of Qorvo by 20.7% in the 3rd quarter. Cerity Partners LLC now owns 8,020 shares of the semiconductor company’s stock valued at $828,000 after purchasing an additional 1,373 shares during the period. Larson Financial Group LLC raised its holdings in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after buying an additional 201 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Qorvo by 51.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 19,442 shares of the semiconductor company’s stock worth $2,008,000 after buying an additional 6,644 shares during the period. 88.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

QRVO has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Loop Capital lifted their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Mizuho raised their price target on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Citigroup reduced their price objective on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.84.

Qorvo Price Performance

QRVO stock opened at $75.63 on Wednesday. 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 company’s fifty day simple moving average is $77.22 and its 200 day simple moving average is $80.98. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 270.11, a PEG ratio of 15.57 and a beta of 1.48.

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.