Vontobel Holding Ltd. Purchases 3,911 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Vontobel Holding Ltd. raised its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 39.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,906 shares of the semiconductor company's stock after purchasing an additional 3,911 shares during the quarter. Vontobel Holding Ltd.'s holdings in Qorvo were worth $972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in QRVO. Mediolanum International Funds Ltd bought a new position in Qorvo in the 4th quarter valued at about $1,177,000. GDS Wealth Management acquired a new stake in shares of Qorvo in the 3rd quarter worth approximately $2,171,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after acquiring an additional 236,590 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after acquiring an additional 10,405 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Qorvo during the third quarter worth approximately $2,507,000. Institutional investors own 88.57% of the company's stock.

Insider Buying and Selling at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now directly owns 30,261 shares in the company, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company's stock.

Qorvo Stock Down 1.3 %

Shares of QRVO stock traded down $1.03 on Friday, reaching $76.07. 1,957,639 shares of the company's stock traded hands, compared to its average volume of 3,030,519. The company has a market capitalization of $7.10 billion, a P/E ratio of 271.68, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. 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 50 day moving average price is $76.56 and its two-hundred day moving average price is $87.35.

Wall Street Analyst Weigh In

QRVO has been the topic of several research analyst reports. Raymond James cut Qorvo from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Barclays dropped their price target on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. TD Cowen reduced their price objective on shares of Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Finally, Loop Capital boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.