Marathon Trading Investment Management LLC Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Marathon Trading Investment Management LLC purchased a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,708 shares of the semiconductor company's stock, valued at approximately $1,238,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of QRVO. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Qorvo by 315.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,616 shares of the semiconductor company's stock valued at $6,197,000 after purchasing an additional 67,302 shares in the last quarter. Amundi grew its position in Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after acquiring an additional 981,519 shares during the last quarter. Andra AP fonden grew its holdings in shares of Qorvo by 23.4% during the fourth quarter. Andra AP fonden now owns 185,154 shares of the semiconductor company's stock worth $12,948,000 after purchasing an additional 35,154 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Qorvo in the fourth quarter valued at approximately $639,000. Finally, Inceptionr LLC bought a new position in Qorvo in the 4th quarter valued at approximately $423,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Trading Up 3.3 %

Shares of NASDAQ:QRVO traded up $2.27 during mid-day trading on Friday, hitting $71.39. The company had a trading volume of 1,556,301 shares, compared to its average volume of 2,871,726. 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 one year low of $64.54 and a one year high of $130.99. The firm has a fifty day moving average price of $77.17 and a 200 day moving average price of $83.55. The company has a market capitalization of $6.67 billion, a PE ratio of 254.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48.

Remove Ads

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Loop Capital boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating 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 stock a "neutral" rating in a research note on Friday, January 24th. Needham & Company LLC restated a "buy" rating and issued a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. Stifel Nicolaus cut their target price on Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group decreased their price target on Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Qorvo presently has a consensus rating of "Hold" and an average target price of $95.84.

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.