Korea Investment CORP Increases Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Korea Investment CORP increased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 26.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,737 shares of the semiconductor company's stock after acquiring an additional 18,489 shares during the period. Korea Investment CORP owned approximately 0.10% of Qorvo worth $6,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new position in shares of Qorvo in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new position in Qorvo during the 4th quarter worth approximately $37,000. Versant Capital Management Inc lifted its stake in Qorvo by 89.7% during the 4th 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 during the period. Venturi Wealth Management LLC boosted its holdings in shares of Qorvo by 67.4% in the 4th 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, CENTRAL TRUST Co raised its holdings in shares of Qorvo by 2,621.4% during the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock worth $53,000 after purchasing an additional 734 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Up 0.6 %

Shares of QRVO traded up $0.41 during mid-day trading on Wednesday, hitting $72.64. 913,265 shares of the company's stock were exchanged, compared to its average volume of 2,006,955. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 259.43, a P/E/G ratio of 15.57 and a beta of 1.48. The stock's 50-day moving average is $76.15 and its 200-day moving average is $79.76. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99.

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Wall Street Analysts Forecast Growth

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

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.