J. Safra Sarasin Holding AG Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

J. Safra Sarasin Holding AG purchased a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,664 shares of the semiconductor company's stock, valued at approximately $1,515,000.

Other large investors also recently added to or reduced their stakes in the company. Alexander Randolph Advisory Inc. increased its stake in shares of Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock worth $950,000 after purchasing an additional 140 shares in the last quarter. Huntington National Bank boosted its holdings in Qorvo by 47.1% in 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. Truvestments Capital LLC increased its stake in Qorvo by 7.2% during the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock worth $194,000 after buying an additional 185 shares in the last quarter. Venturi Wealth Management LLC raised 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 during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after acquiring an additional 286 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on QRVO shares. Citigroup reduced their price objective on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research note on Wednesday, January 29th. Barclays reiterated a "reduce" rating on shares of Qorvo in a research report on Tuesday. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Benchmark reiterated a "hold" rating on shares of Qorvo in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Qorvo currently has an average rating of "Hold" and a consensus target price of $94.79.

Qorvo Price Performance

Shares of QRVO opened at $59.12 on Wednesday. The firm has a 50-day simple moving average of $68.17 and a two-hundred day simple moving average of $74.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. 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 $5.52 billion, a PE ratio of 211.14, a P/E/G ratio of 15.57 and a beta of 1.43.

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.

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