Ontario Teachers Pension Plan Board Acquires 8,474 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Ontario Teachers Pension Plan Board lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 57.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,313 shares of the semiconductor company's stock after acquiring an additional 8,474 shares during the period. Ontario Teachers Pension Plan Board's holdings in Qorvo were worth $1,630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stifel Financial Corp increased its position in Qorvo by 11.8% in the 3rd quarter. Stifel Financial Corp now owns 7,649 shares of the semiconductor company's stock valued at $790,000 after buying an additional 807 shares in the last quarter. MML Investors Services LLC grew its stake in Qorvo by 10.9% in the third quarter. MML Investors Services LLC now owns 3,532 shares of the semiconductor company's stock valued at $365,000 after acquiring an additional 347 shares during the period. M&T Bank Corp grew its stake in Qorvo by 6.4% in the third quarter. M&T Bank Corp now owns 5,165 shares of the semiconductor company's stock valued at $534,000 after acquiring an additional 311 shares during the period. Virtu Financial LLC bought a new stake in shares of Qorvo during the third quarter valued at approximately $1,211,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Qorvo during the third quarter worth approximately $200,000. 88.57% of the stock is owned by institutional investors.

Qorvo Stock Performance

NASDAQ QRVO traded up $0.81 on Friday, hitting $57.63. 1,331,963 shares of the stock traded hands, compared to its average volume of 2,132,639. 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 business's fifty day moving average is $68.91 and its two-hundred day moving average is $75.73. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $130.99. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 205.82, a PEG ratio of 15.57 and a beta of 1.43.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Citigroup lowered their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a report on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Mizuho increased their price objective on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Finally, Loop Capital lifted their target price on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Three equities 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 stock. According to data from MarketBeat.com, the stock presently has an average 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.