Symmetry Partners LLC Lowers Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Symmetry Partners LLC reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 14.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,196 shares of the semiconductor company’s stock after selling 1,355 shares during the quarter. Symmetry Partners LLC’s holdings in Qorvo were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Qorvo in the fourth quarter valued at $26,000. Capital Asset Advisory Services LLC acquired a new position in shares of Qorvo during the 4th quarter worth about $30,000. Valley Brook Capital Group bought a new stake in Qorvo during the 4th quarter valued at approximately $33,000. Huntington National Bank grew its holdings in Qorvo by 172.5% in the 1st quarter. Huntington National Bank now owns 188 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 119 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of Qorvo by 39.7% during the first quarter. CENTRAL TRUST Co now owns 190 shares of the semiconductor company’s stock worth $35,000 after buying an additional 54 shares during the last quarter. 84.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ QRVO opened at $172.01 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. Qorvo, Inc. has a twelve month low of $93.31 and a twelve month high of $201.68. The company’s fifty day moving average is $188.19 and its 200-day moving average is $170.05. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 45.27, a P/E/G ratio of 1.47 and a beta of 1.51.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 5th. The semiconductor company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.23 by $0.51. Qorvo had a net margin of 12.71% and a return on equity of 18.08%. On average, research analysts anticipate that Qorvo, Inc. will post 7.79 EPS for the current fiscal year.

Several analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Qorvo from $190.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 23rd. Barclays upped their price target on Qorvo from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup lowered their price objective on Qorvo from $188.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, February 11th. Needham & Company LLC increased their price objective on shares of Qorvo from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Mizuho increased their price target on shares of Qorvo from $183.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, April 15th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $197.70.

Qorvo Profile

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates in two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters and duplexers, antenna tuners, RF power management integrated circuits, multimode/multi-band PAs and transmit modules, antenna-plexers, discrete filters and duplexers, discrete switches, and UWB system solutions, as well as envelope tracking power management solutions, antenna control solutions, and UWB system solutions supporting secure, low power, location, and communication services.

Further Reading: Special Purpose Acquisition Company (SPAC)

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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