29,752 Shares in Qorvo, Inc. (NASDAQ:QRVO) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,752 shares of the semiconductor company's stock, valued at approximately $2,081,000.

A number of other hedge funds have also recently added to or reduced their stakes in QRVO. Cerity Partners LLC boosted its holdings in shares of Qorvo by 20.7% in the 3rd quarter. Cerity Partners LLC now owns 8,020 shares of the semiconductor company's stock valued at $828,000 after purchasing an additional 1,373 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Qorvo by 51.9% in the third quarter. Daiwa Securities Group Inc. now owns 19,442 shares of the semiconductor company's stock valued at $2,008,000 after acquiring an additional 6,644 shares during the last quarter. Bank of Montreal Can grew its position in Qorvo by 36.5% during the third quarter. Bank of Montreal Can now owns 124,514 shares of the semiconductor company's stock valued at $12,900,000 after acquiring an additional 33,281 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in Qorvo during the third quarter worth about $401,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Down 0.2 %

NASDAQ QRVO traded down $0.18 during trading hours on Tuesday, reaching $72.23. 1,130,239 shares of the company traded hands, compared to its average volume of 2,006,752. The company has a 50 day moving average of $76.44 and a two-hundred day moving average of $79.81. The stock has a market capitalization of $6.75 billion, a PE ratio of 257.96, a PEG ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month 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.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th. Loop Capital boosted their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research note 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. Morgan Stanley raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Finally, Barclays lowered their price target on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.84.

Qorvo Company 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.