Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 31.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,000 shares of the semiconductor company's stock after selling 70,000 shares during the period. Canada Pension Plan Investment Board owned 0.16% of Qorvo worth $10,629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of QRVO. Rakuten Securities Inc. acquired a new stake in Qorvo in the fourth quarter valued at approximately $28,000. Huntington National Bank grew its stake in Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after buying an additional 145 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Qorvo during the 4th quarter valued at about $37,000. Versant Capital Management Inc boosted its holdings in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 286 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Qorvo by 67.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 250 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on QRVO shares. Mizuho upped 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. Stifel Nicolaus dropped their target price on Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Loop Capital upped their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Qorvo presently has an average rating of "Hold" and an average price target of $94.79.

Qorvo Price Performance

Shares of NASDAQ:QRVO traded up $0.27 during trading on Friday, reaching $63.78. The stock had a trading volume of 988,983 shares, compared to its average volume of 2,140,492. 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 1-year low of $49.46 and a 1-year high of $130.99. The stock has a market cap of $5.96 billion, a PE ratio of 227.79, a PEG ratio of 15.57 and a beta of 1.43. The business has a fifty day moving average price of $67.59 and a 200-day moving average price of $74.59.

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.