Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by Ninety One UK Ltd

Ninety One UK Ltd raised its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 18.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 671,427 shares of the semiconductor company's stock after acquiring an additional 106,090 shares during the quarter. Ninety One UK Ltd owned approximately 0.71% of Qorvo worth $46,953,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd acquired a new position in Qorvo in the fourth quarter worth about $1,177,000. GDS Wealth Management acquired a new position in shares of Qorvo in the 3rd quarter worth approximately $2,171,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Qorvo by 78.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after acquiring an additional 236,590 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after acquiring an additional 10,405 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Qorvo during the third quarter worth $2,507,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Price Performance

Shares of Qorvo stock traded down $1.86 on Friday, hitting $77.03. The company had a trading volume of 2,507,842 shares, compared to its average volume of 3,590,921. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. 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 company has a market cap of $7.19 billion, a PE ratio of 275.11, a PEG ratio of 15.93 and a beta of 1.41. The business has a 50-day simple moving average of $75.01 and a 200-day simple moving average of $90.27.

Insider Buying and Selling at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares of the company's stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on QRVO shares. UBS Group lowered their target price on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Mizuho lifted their target price on Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Loop Capital increased their price target on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Qorvo has an average rating of "Hold" and an average price target 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.