Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 27.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,067,065 shares of the semiconductor company’s stock after buying an additional 231,729 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Qorvo were worth $74,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the period. Rakuten Securities Inc. acquired a new stake in Qorvo during the 4th quarter worth $28,000. SBI Securities Co. Ltd. purchased a new position in Qorvo during the 4th quarter worth $37,000. Versant Capital Management Inc raised its position in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after buying an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on QRVO shares. Citigroup cut their price objective 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. Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Barclays cut their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Loop Capital upped their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Stock Performance

NASDAQ:QRVO opened at $72.02 on Wednesday. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The company has a market capitalization of $6.73 billion, a P/E ratio of 257.21, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The firm has a 50-day moving average price of $77.17 and a two-hundred day moving average price of $82.25. 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 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.