Empowered Funds LLC increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 64.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,727 shares of the semiconductor company's stock after buying an additional 7,340 shares during the period. Empowered Funds LLC's holdings in Qorvo were worth $1,310,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. raised its stake in Qorvo by 7.1% during the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock worth $157,920,000 after buying an additional 101,742 shares during the last quarter. KBC Group NV raised its stake in Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock worth $75,328,000 after buying an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Qorvo by 140.2% during the third 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 increased its stake in Qorvo by 23.9% in the third quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock valued at $83,429,000 after purchasing an additional 160,534 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Qorvo by 377.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock valued at $57,125,000 after purchasing an additional 645,829 shares in the last quarter. Institutional investors own 88.57% of the company's stock.
Qorvo Stock Performance
Shares of NASDAQ QRVO traded down $1.79 during midday trading on Thursday, hitting $77.10. The company's stock had a trading volume of 1,606,504 shares, compared to its average volume of 3,066,661. The stock has a fifty day moving average price of $76.41 and a 200 day moving average price of $87.42. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. 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 firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 275.36, a P/E/G ratio of 15.74 and a beta of 1.41.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on QRVO. 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. UBS Group decreased their price target on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Loop Capital lifted their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Craig Hallum decreased their price target on shares of Qorvo from $142.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $95.84.
Read Our Latest Research Report on QRVO
Insider Activity
In related news, SVP Philip Chesley sold 4,045 shares of the company'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 approximately $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.
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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