Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stake in Qorvo, Inc. (NASDAQ:QRVO)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Qorvo, Inc. (NASDAQ:QRVO) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,100 shares of the semiconductor company’s stock after acquiring an additional 900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Qorvo were worth $706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QRVO. Farther Finance Advisors LLC increased its stake in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the period. Verdence Capital Advisors LLC increased its stake in Qorvo by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after buying an additional 140 shares during the period. Alexander Randolph Advisory Inc. increased its stake in Qorvo by 1.0% in the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after buying an additional 140 shares during the period. Martingale Asset Management L P increased its stake in Qorvo by 1.0% in the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after buying an additional 181 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in Qorvo by 7.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,789 shares of the semiconductor company’s stock worth $280,000 after buying an additional 194 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Susquehanna reduced their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Loop Capital raised their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. TD Cowen dropped their target price 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, Barclays dropped their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $95.84.

Qorvo Stock Down 0.8 %

NASDAQ:QRVO opened at $74.54 on Thursday. The company’s 50-day simple moving average is $77.00 and its 200-day simple moving average is $86.42. The stock has a market capitalization of $6.96 billion, a P/E ratio of 266.21, a P/E/G ratio of 15.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99.

Insider Buying and Selling

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.