Leeward Investments LLC MA Reduces Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Leeward Investments LLC MA trimmed its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,421 shares of the semiconductor company’s stock after selling 3,828 shares during the period. Leeward Investments LLC MA owned 0.12% of Qorvo worth $7,932,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mediolanum International Funds Ltd purchased a new position in Qorvo during the fourth quarter valued at $1,177,000. GDS Wealth Management purchased a new position in Qorvo during the third quarter valued at $2,171,000. Robeco Institutional Asset Management B.V. grew its holdings in Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock worth $55,548,000 after purchasing an additional 236,590 shares during the period. Janney Montgomery Scott LLC grew its holdings in Qorvo by 245.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after purchasing an additional 10,405 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Qorvo in the third quarter worth about $2,507,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QRVO has been the topic of a number of recent research reports. Morgan Stanley upgraded 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 report on Tuesday, January 21st. BNP Paribas cut Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective for the company. in a research note on Wednesday, October 30th. TD Cowen lowered their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Craig Hallum cut their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, 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. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.84.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company’s stock.

Qorvo Stock Performance

QRVO stock opened at $76.07 on Monday. The company has a market cap of $7.10 billion, a P/E ratio of 271.68, a price-to-earnings-growth ratio of 15.57 and a beta of 1.41. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock’s fifty day moving average price is $76.69 and its 200-day moving average price is $86.95.

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.