Jump Financial LLC Sells 20,267 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Jump Financial LLC lowered its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 13.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,375 shares of the semiconductor company's stock after selling 20,267 shares during the period. Jump Financial LLC owned approximately 0.14% of Qorvo worth $8,837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Qorvo during the fourth quarter worth $71,825,000. Amundi boosted its stake in shares of Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock valued at $156,673,000 after purchasing an additional 981,519 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Qorvo by 8,535.6% during the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock worth $65,153,000 after purchasing an additional 920,901 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of 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 buying an additional 645,829 shares during the period. Finally, KBC Group NV boosted its position in Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after acquiring an additional 637,087 shares during the last quarter. Institutional investors own 88.57% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on QRVO shares. Needham & Company LLC restated a "buy" rating and set a $100.00 price target on shares of Qorvo in a 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 research note on Wednesday, January 29th. Stifel Nicolaus lowered their price target on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Mizuho boosted their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Finally, Morgan Stanley upgraded Qorvo from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Qorvo has an average rating of "Hold" and an average price target of $95.84.

Qorvo Stock Up 1.4 %

QRVO traded up $0.81 during midday trading on Friday, hitting $57.63. 1,331,963 shares of the company's stock traded hands, compared to its average volume of 2,132,639. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99. The stock's fifty day simple moving average is $68.91 and its 200-day simple moving average is $75.73. The company has a market cap of $5.38 billion, a PE ratio of 205.82, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

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.