Mitsubishi UFJ Trust & Banking Corp Boosts Stake in Qorvo, Inc. (NASDAQ:QRVO)

Mitsubishi UFJ Trust & Banking Corp lifted its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 68.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,298 shares of the semiconductor company's stock after buying an additional 30,486 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Qorvo worth $5,266,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Alexander Randolph Advisory Inc. increased its holdings in shares of Qorvo by 1.0% in the 4th 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. Martingale Asset Management L P lifted its stake in Qorvo by 1.0% during the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company's stock valued at $1,969,000 after acquiring an additional 181 shares during the period. Truvestments Capital LLC grew its stake in shares of Qorvo by 7.2% in the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock worth $194,000 after acquiring an additional 185 shares during the period. Larson Financial Group LLC lifted its position in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 201 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Qorvo by 0.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company's stock worth $2,876,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

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Qorvo Price Performance

Shares of QRVO stock traded up $0.41 during trading hours on Wednesday, hitting $72.64. The stock had a trading volume of 913,265 shares, compared to its average volume of 2,002,413. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 259.43, a PEG ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The stock's 50-day moving average price is $76.44 and its two-hundred day moving average price is $79.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued 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 target on shares of Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Benchmark reissued a "hold" rating on shares of Qorvo in a report on Wednesday, January 29th. Stifel Nicolaus cut their target price on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. Finally, Barclays decreased their price target on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Three investment 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.com, the company currently has an average rating of "Hold" and a consensus price target 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.