Qorvo, Inc. (NASDAQ:QRVO) Stock Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 315.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,616 shares of the semiconductor company's stock after purchasing an additional 67,302 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Qorvo worth $6,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QRVO. Larson Financial Group LLC boosted its stake in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Qorvo in the 4th quarter valued at $37,000. Versant Capital Management Inc boosted its stake in shares of Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 286 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock valued at $43,000 after buying an additional 104 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Qorvo by 67.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 250 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

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Qorvo Trading Up 3.3 %

QRVO stock traded up $2.27 during midday trading on Friday, hitting $71.39. The stock had a trading volume of 1,556,301 shares, compared to its average volume of 2,871,726. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The company's 50-day moving average price is $77.17 and its 200 day moving average price is $83.55. The firm has a market cap of $6.67 billion, a PE ratio of 254.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

Analysts Set New Price Targets

Several research analysts recently issued reports on QRVO shares. Barclays decreased their price target 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. Citigroup cut their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group dropped their price target on Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Finally, Mizuho raised their price objective on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company 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.