Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 477.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,399 shares of the semiconductor company's stock after buying an additional 30,099 shares during the period. Alberta Investment Management Corp's holdings in Qorvo were worth $2,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in QRVO. Pacer Advisors Inc. lifted its holdings in Qorvo by 7.1% in the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock valued at $157,920,000 after acquiring an additional 101,742 shares during the last quarter. KBC Group NV lifted its stake in shares of Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after purchasing an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock worth $86,290,000 after purchasing an additional 487,621 shares during the period. Van ECK Associates Corp grew its holdings in shares of Qorvo by 23.9% during the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock worth $83,429,000 after purchasing an additional 160,534 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Qorvo by 377.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock worth $57,125,000 after purchasing an additional 645,829 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Insider Activity at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 30,261 shares of the company's stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Stock Down 1.3 %

NASDAQ QRVO traded down $1.03 on Friday, hitting $76.07. 1,957,639 shares of the stock were exchanged, compared to its average volume of 3,034,066. The company has a market cap of $7.10 billion, a PE ratio of 271.68, a PEG ratio of 15.93 and a beta of 1.41. The company has a 50-day moving average price of $76.69 and a 200-day moving average price of $87.15. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Qorvo from $115.00 to $95.00 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. Citigroup cut their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research report on Wednesday, January 29th. Barclays decreased their price target on Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Qorvo presently has an average rating of "Hold" and a consensus 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.