AustralianSuper Pty Ltd bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 113,182 shares of the semiconductor company's stock, valued at approximately $7,915,000. AustralianSuper Pty Ltd owned about 0.12% of Qorvo at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 104 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Qorvo by 5.0% during the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company's stock worth $231,000 after purchasing an additional 107 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Qorvo by 3.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company's stock valued at $401,000 after purchasing an additional 140 shares in the last quarter. Narwhal Capital Management lifted its holdings in shares of Qorvo by 7.7% during the 3rd quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company's stock valued at $231,000 after purchasing an additional 160 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Qorvo by 1.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,702 shares of the semiconductor company's stock valued at $1,002,000 after purchasing an additional 176 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Qorvo
In other news, SVP Philip Chesley sold 4,045 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. 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. Loop Capital increased their target price on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Susquehanna dropped their price target on Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price objective on Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Three equities 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 has a consensus rating of "Hold" and a consensus price target of $95.84.
Read Our Latest Stock Analysis on QRVO
Qorvo Stock Performance
Shares of QRVO traded up $0.93 during mid-day trading on Wednesday, reaching $78.89. The company's stock had a trading volume of 2,190,755 shares, compared to its average volume of 3,112,273. 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 $7.37 billion, a P/E ratio of 281.75, a PEG ratio of 15.38 and a beta of 1.41. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The business has a 50-day simple moving average of $76.41 and a two-hundred day simple moving average of $87.42.
About Qorvo
(
Free Report)
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.
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