Boston Research & Management Inc. Sells 26,044 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Boston Research & Management Inc. decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 67.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,555 shares of the semiconductor company’s stock after selling 26,044 shares during the period. Boston Research & Management Inc.’s holdings in Qorvo were worth $877,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new position in Qorvo in the fourth quarter worth approximately $28,000. Larson Financial Group LLC lifted its position in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Qorvo in the 4th quarter valued at approximately $37,000. Versant Capital Management Inc boosted its stake in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 286 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Qorvo by 67.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 250 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Stock Down 3.0 %

QRVO stock opened at $71.50 on Monday. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The company has a market cap of $6.68 billion, a PE ratio of 255.36, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. 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 business’s 50-day simple moving average is $76.98 and its 200 day simple moving average is $80.29.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Loop Capital increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Stifel Nicolaus reduced their price objective on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. The Goldman Sachs Group cut their price target on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Three research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.