Zurcher Kantonalbank Zurich Cantonalbank Acquires 67,302 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 315.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,616 shares of the semiconductor company's stock after acquiring an additional 67,302 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of Qorvo worth $6,197,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Amundi lifted its position in shares of Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock valued at $156,673,000 after buying an additional 981,519 shares during the last quarter. Andra AP fonden lifted its holdings in Qorvo by 23.4% during the 4th quarter. Andra AP fonden now owns 185,154 shares of the semiconductor company's stock valued at $12,948,000 after purchasing an additional 35,154 shares during the last quarter. Edgestream Partners L.P. bought a new position in Qorvo during the fourth quarter worth $639,000. Inceptionr LLC acquired a new position in shares of Qorvo in the fourth quarter valued at $423,000. Finally, Raymond James Financial Inc. bought a new position in shares of Qorvo in the fourth quarter valued at about $1,327,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Mizuho upped their price objective on Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, January 24th. 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. Citigroup reduced their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Finally, StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $95.84.

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Qorvo Price Performance

Shares of Qorvo stock traded up $2.27 during midday trading on Friday, hitting $71.39. 1,556,301 shares of the company traded hands, compared to its average volume of 2,871,726. The firm's fifty day moving average price is $77.18 and its 200-day moving average price is $82.84. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 254.96, a PEG ratio of 15.57 and a beta of 1.48. 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.

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.