Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Oak Associates Ltd. OH

Oak Associates Ltd. OH trimmed its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 65.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,007 shares of the semiconductor company’s stock after selling 65,000 shares during the period. Oak Associates Ltd. OH’s holdings in Qorvo were worth $2,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Alexander Randolph Advisory Inc. lifted its position in shares of Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after purchasing an additional 140 shares in the last quarter. Huntington National Bank increased its holdings in shares of Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Qorvo by 7.2% in the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock valued at $194,000 after acquiring an additional 185 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Qorvo by 0.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock worth $2,876,000 after purchasing an additional 215 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Qorvo by 67.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Down 11.3 %

Shares of NASDAQ QRVO opened at $55.12 on Friday. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $130.99. The firm’s 50-day simple moving average is $71.50 and its 200 day simple moving average is $77.43. 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 has a market cap of $5.15 billion, a price-to-earnings ratio of 196.86, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QRVO. Benchmark reiterated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Citigroup dropped their target price 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. Loop Capital increased their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Finally, StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.84.

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.