Hsbc Holdings PLC Sells 106,889 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Hsbc Holdings PLC lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 50.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,059 shares of the semiconductor company’s stock after selling 106,889 shares during the period. Hsbc Holdings PLC’s holdings in Qorvo were worth $7,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FIL Ltd raised its stake in shares of Qorvo by 5.3% during the 4th quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company’s stock worth $232,464,000 after purchasing an additional 166,461 shares in the last quarter. Amundi raised its stake in Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after acquiring an additional 981,519 shares during the period. Dimensional Fund Advisors LP raised its stake in Qorvo by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company’s stock valued at $99,280,000 after acquiring an additional 264,167 shares during the period. KBC Group NV raised its stake in Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock valued at $75,328,000 after acquiring an additional 637,087 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Qorvo by 27.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,067,065 shares of the semiconductor company’s stock valued at $74,620,000 after acquiring an additional 231,729 shares during the period. Institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Benchmark restated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Mizuho increased their price target on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Finally, StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Qorvo Stock Performance

Shares of Qorvo stock opened at $63.80 on Tuesday. The company has a 50 day moving average of $67.01 and a 200-day moving average of $73.68. The company has a market cap of $5.96 billion, a PE ratio of 227.86, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

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.