Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 179.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,722 shares of the semiconductor company's stock after purchasing an additional 34,516 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Qorvo worth $3,756,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 104 shares during the period. V Square Quantitative Management LLC lifted its holdings in Qorvo by 5.0% in the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company's stock valued at $231,000 after acquiring an additional 107 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Qorvo by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company's stock valued at $401,000 after acquiring an additional 140 shares during the period. Narwhal Capital Management lifted its holdings in Qorvo by 7.7% in the third quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company's stock valued at $231,000 after acquiring an additional 160 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Qorvo by 9.2% in the third quarter. GAMMA Investing LLC now owns 2,040 shares of the semiconductor company's stock valued at $211,000 after acquiring an additional 172 shares during the period. Institutional investors and hedge funds own 88.57% of the company's stock.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the company'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 transaction, the senior vice president now owns 30,261 shares of the company's stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company's stock.

Qorvo Trading Up 0.5 %

Shares of Qorvo stock traded up $0.35 during trading hours on Wednesday, hitting $77.01. The company's stock had a trading volume of 1,426,631 shares, compared to its average volume of 3,314,948. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The firm has a fifty day moving average of $75.56 and a 200-day moving average of $88.78. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 275.04, a P/E/G ratio of 15.93 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60.

Analysts Set New Price Targets

A number of research firms have recently commented on QRVO. Mizuho boosted their price objective on Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Loop Capital boosted their price objective on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Citigroup cut their price objective on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Susquehanna cut their price objective on Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Finally, Bank of America cut their price objective on Qorvo from $115.00 to $80.00 and set an "underperform" rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.