Assenagon Asset Management S.A. Has $57.13 Million Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Assenagon Asset Management S.A. grew its stake in Qorvo, Inc. (NASDAQ:QRVO) by 377.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 816,882 shares of the semiconductor company’s stock after buying an additional 645,829 shares during the period. Assenagon Asset Management S.A.’s holdings in Qorvo were worth $57,125,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC increased its holdings in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Qorvo during the third quarter worth about $41,000. Versant Capital Management Inc grew its position in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after buying an additional 286 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Qorvo by 33.8% in the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on QRVO shares. JPMorgan Chase & Co. decreased their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. BNP Paribas cut shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective for the company. in a research report on Wednesday, October 30th. Morgan Stanley lowered Qorvo from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $130.00 to $120.00 in a report on Friday, October 11th. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group dropped their price target on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $99.06.

Qorvo Price Performance

Shares of QRVO opened at $74.16 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The stock has a market capitalization of $7.01 billion, a P/E ratio of -50.79, a P/E/G ratio of 5.58 and a beta of 1.40. The company has a 50 day moving average of $69.78 and a 200-day moving average of $94.25.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $1.99 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction that occurred on 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 directly owns 30,261 shares in the company, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company insiders.

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.