Stoneridge Investment Partners LLC Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Stoneridge Investment Partners LLC purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,209 shares of the semiconductor company's stock, valued at approximately $784,000.

Several other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. raised its stake in Qorvo by 7.1% during the 3rd 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 in the last quarter. KBC Group NV raised its stake in shares of Qorvo by 144.8% during the fourth 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 in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Qorvo by 140.2% during the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock valued at $86,290,000 after purchasing an additional 487,621 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Qorvo by 23.9% in the third 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. grew its position in Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock valued at $57,125,000 after buying an additional 645,829 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Up 0.5 %

NASDAQ QRVO traded up $0.35 during trading on Wednesday, reaching $77.01. 1,426,631 shares of the company's stock were exchanged, compared to its average volume of 3,314,948. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The company's fifty day simple moving average is $75.56 and its 200-day simple moving average is $88.78. The firm has a market capitalization of $7.19 billion, a PE ratio of 275.04, a P/E/G ratio of 15.93 and a beta of 1.41.

Insiders Place Their Bets

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the company's stock in a transaction dated 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 directly 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. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QRVO. Mizuho upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their target price on Qorvo from $115.00 to $95.00 and set an "underweight" rating for the company in a research report on Wednesday, October 30th. BNP Paribas cut Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 price target on the stock. in a research report on Wednesday, October 30th. StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus decreased their target price on Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.