Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 320.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 458,178 shares of the semiconductor company’s stock after purchasing an additional 349,078 shares during the period. Principal Financial Group Inc.’s holdings in Qorvo were worth $32,040,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the last quarter. Versant Capital Management Inc lifted its holdings 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 acquiring an additional 286 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Qorvo by 2,621.4% during the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 734 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Qorvo during the 3rd quarter worth about $96,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Trading Down 1.3 %

NASDAQ QRVO opened at $76.07 on Friday. The company’s fifty day simple moving average is $76.69 and its 200-day simple moving average is $87.15. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week 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 market cap of $7.10 billion, a P/E ratio of 271.68, a PEG ratio of 15.93 and a beta of 1.41.

Analyst Ratings Changes

Several brokerages have recently weighed in on QRVO. Citigroup cut their price objective on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Loop Capital increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Stifel Nicolaus cut their price objective on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. TD Cowen cut their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $95.84.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were 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 of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by corporate 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.