Boston Research & Management Inc. Decreases Stake in Qorvo, Inc. (NASDAQ:QRVO)

Boston Research & Management Inc. trimmed its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 67.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,555 shares of the semiconductor company’s stock after selling 26,044 shares during the quarter. Boston Research & Management Inc.’s holdings in Qorvo were worth $877,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. raised its position in shares of Qorvo by 85.0% in the 4th quarter. Meeder Asset Management Inc. now owns 12,471 shares of the semiconductor company’s stock valued at $872,000 after purchasing an additional 5,730 shares in the last quarter. DnB Asset Management AS boosted its stake in Qorvo by 6.1% during the 4th quarter. DnB Asset Management AS now owns 52,436 shares of the semiconductor company’s stock valued at $3,667,000 after acquiring an additional 3,034 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Qorvo during the 4th quarter worth $2,203,000. Norges Bank bought a new stake in shares of Qorvo in the 4th quarter worth about $71,825,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Qorvo by 16.3% in the 4th quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company’s stock valued at $45,429,000 after purchasing an additional 91,120 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on QRVO shares. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. Stifel Nicolaus dropped their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Barclays decreased their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. 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, The Goldman Sachs Group lowered their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.84.

Qorvo Trading Down 3.0 %

Shares of QRVO stock opened at $71.50 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 255.36, a PEG ratio of 15.57 and a beta of 1.48. The company has a 50-day simple moving average of $76.98 and a two-hundred day simple moving average of $80.29. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99.

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.