Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Ninety One UK Ltd

Ninety One UK Ltd lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 18.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 671,427 shares of the semiconductor company’s stock after acquiring an additional 106,090 shares during the period. Ninety One UK Ltd’s holdings in Qorvo were worth $46,953,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QRVO. F&V Capital Management LLC lifted its holdings in Qorvo by 3.7% in the 4th quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company’s stock valued at $6,541,000 after purchasing an additional 3,335 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Qorvo by 2,621.4% in the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 734 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Qorvo by 24.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the semiconductor company’s stock valued at $241,000 after buying an additional 666 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Qorvo during the fourth quarter worth approximately $1,177,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Qorvo during the fourth quarter worth approximately $212,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on QRVO. JPMorgan Chase & Co. reduced their price target on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Citigroup reduced their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Loop Capital lifted their price target on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group lowered their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.84.

Insider Buying and Selling

In other news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Qorvo Trading Up 0.3 %

QRVO opened at $81.89 on Wednesday. The firm’s 50 day moving average is $74.52 and its 200-day moving average is $90.40. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $7.65 billion, a P/E ratio of 292.46, a P/E/G ratio of 16.76 and a beta of 1.41.

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.