Game Plan Financial Advisors LLC Reduces Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Game Plan Financial Advisors LLC trimmed its stake in Qorvo, Inc. (NASDAQ:QRVO) by 34.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,515 shares of the semiconductor company’s stock after selling 800 shares during the quarter. Game Plan Financial Advisors LLC’s holdings in Qorvo were worth $105,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its position in shares of Qorvo by 7.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company’s stock worth $157,920,000 after acquiring an additional 101,742 shares in the last quarter. KBC Group NV raised its position in shares of Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after acquiring an additional 637,087 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after acquiring an additional 487,621 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Qorvo by 23.9% in the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company’s stock worth $83,429,000 after acquiring an additional 160,534 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock worth $57,125,000 after acquiring an additional 645,829 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on QRVO shares. Bank of America dropped their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. TD Cowen dropped their target price on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. BNP Paribas downgraded Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their target price on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Qorvo currently has an average rating of “Hold” and a consensus target price of $95.84.

Qorvo Stock Performance

NASDAQ QRVO opened at $76.16 on Friday. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 272.00, a PEG ratio of 15.93 and a beta of 1.41. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month 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. The stock has a 50-day moving average of $75.90 and a 200 day moving average of $88.16.

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.