Swiss National Bank Has $18.74 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Swiss National Bank trimmed its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 267,945 shares of the semiconductor company's stock after selling 14,100 shares during the period. Swiss National Bank owned about 0.29% of Qorvo worth $18,737,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Amundi boosted its stake in shares of Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after buying an additional 981,519 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Qorvo by 7.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock worth $157,920,000 after buying an additional 101,742 shares during the last quarter. KBC Group NV boosted its stake in shares of Qorvo by 144.8% during the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock worth $75,328,000 after buying an additional 637,087 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Qorvo by 8,535.6% during the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock worth $65,153,000 after buying an additional 920,901 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake 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 buying an additional 645,829 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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Qorvo Price Performance

Shares of NASDAQ QRVO traded down $0.56 during midday trading on Friday, reaching $71.80. The company's stock had a trading volume of 11,976,241 shares, compared to its average volume of 1,905,009. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The business's 50 day moving average price is $77.14 and its two-hundred day moving average price is $81.80. The company has a market cap of $6.71 billion, a P/E ratio of 256.43, a P/E/G ratio of 15.57 and a beta of 1.48.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QRVO shares. The Goldman Sachs Group cut their target price 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. Barclays cut their target price on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Stifel Nicolaus cut 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. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three equities research 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 currently has a consensus rating of "Hold" and an average target price of $95.84.

Qorvo 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.