Mediolanum International Funds Ltd Purchases New Shares in Qorvo, Inc. (NASDAQ:QRVO)

Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,923 shares of the semiconductor company’s stock, valued at approximately $1,177,000.

A number of other hedge funds also recently bought and sold shares of QRVO. Larson Financial Group LLC raised its stake in Qorvo by 163.4% during 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Qorvo during the third quarter valued at $41,000. Versant Capital Management Inc raised its stake in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 286 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Qorvo by 33.8% during the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

QRVO has been the topic of a number of analyst reports. 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 research report on Wednesday, January 29th. 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 research report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Bank of America cut their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.84.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $82.98 on Monday. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 296.36, a PEG ratio of 6.89 and a beta of 1.40. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The firm’s 50 day simple moving average is $74.01 and its 200-day simple moving average is $90.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38.

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.