Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in Qorvo, Inc. (NASDAQ:QRVO) by 9.8% in the fourth quarter, Holdings Channel reports. The fund owned 277,806 shares of the semiconductor company’s stock after selling 30,200 shares during the period. Renaissance Technologies LLC’s holdings in Qorvo were worth $19,427,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of QRVO. Rakuten Securities Inc. acquired a new stake in Qorvo during the fourth quarter worth about $28,000. 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 worth $32,000 after buying an additional 145 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Qorvo during the 4th quarter valued at approximately $37,000. Versant Capital Management Inc lifted its holdings in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the topic of several recent analyst reports. Barclays decreased their price target on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Citigroup lowered their target price 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. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Mizuho upped their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Loop Capital boosted their target price on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo Stock Up 2.1 %

Shares of NASDAQ:QRVO opened at $56.27 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 200.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The firm’s 50 day moving average price is $70.99 and its 200 day moving average price is $76.91.

About Qorvo

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.