Mediolanum International Funds Ltd Acquires Shares of 16,923 Qorvo, Inc. (NASDAQ:QRVO)

Mediolanum International Funds Ltd bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,923 shares of the semiconductor company's stock, valued at approximately $1,177,000.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Qorvo by 7.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock valued at $157,920,000 after acquiring an additional 101,742 shares during the last quarter. KBC Group NV lifted its position in Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after purchasing an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock worth $86,290,000 after buying an additional 487,621 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Qorvo by 23.9% during the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock valued at $83,429,000 after buying an additional 160,534 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock valued at $57,125,000 after acquiring an additional 645,829 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

Qorvo Trading Down 4.5 %

Shares of QRVO traded down $3.70 during trading on Thursday, reaching $78.89. 3,452,735 shares of the company traded hands, compared to its average volume of 3,587,317. The stock has a 50-day simple moving average of $75.01 and a 200-day simple moving average of $90.27. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The stock has a market cap of $7.37 billion, a PE ratio of 281.75, a price-to-earnings-growth ratio of 16.76 and a beta of 1.41.

Analyst Ratings Changes

A number of equities research analysts have issued reports on QRVO shares. Susquehanna decreased their price objective on Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Mizuho increased their price target on Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Morgan Stanley raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Barclays reduced their target price on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, The Goldman Sachs Group cut their price objective on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $95.84.

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.