BI Asset Management Fondsmaeglerselskab A S Boosts Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

BI Asset Management Fondsmaeglerselskab A S increased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 161.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,117 shares of the semiconductor company's stock after acquiring an additional 9,953 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Qorvo were worth $1,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QRVO. Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo during the fourth quarter valued at $1,177,000. Janney Montgomery Scott LLC boosted its holdings in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after acquiring an additional 10,405 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Qorvo by 16.3% in the fourth quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock worth $45,429,000 after acquiring an additional 91,120 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Qorvo during the fourth quarter valued at approximately $1,327,000. Finally, Virtu Financial LLC bought a new position in Qorvo during the third quarter valued at approximately $1,211,000. 88.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QRVO. The Goldman Sachs Group decreased their target price on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Loop Capital boosted their price target on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Barclays cut their target price on shares of Qorvo from $80.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, Citigroup dropped their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of "Hold" and an average target price of $94.79.

Qorvo Trading Up 1.6 %

Shares of Qorvo stock opened at $59.12 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 211.14, a PEG ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99. The business has a 50-day moving average price of $68.17 and a 200-day moving average price of $74.95.

Qorvo 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.

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