Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by DnB Asset Management AS

DnB Asset Management AS grew its position in Qorvo, Inc. (NASDAQ:QRVO) by 6.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 52,436 shares of the semiconductor company’s stock after acquiring an additional 3,034 shares during the quarter. DnB Asset Management AS’s holdings in Qorvo were worth $3,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of QRVO. Cerity Partners LLC boosted its stake in Qorvo by 20.7% during the 3rd quarter. Cerity Partners LLC now owns 8,020 shares of the semiconductor company’s stock worth $828,000 after purchasing an additional 1,373 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Qorvo by 0.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 565,023 shares of the semiconductor company’s stock worth $58,367,000 after buying an additional 2,382 shares during the period. Public Sector Pension Investment Board increased its position in Qorvo by 13.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 4,145 shares of the semiconductor company’s stock valued at $428,000 after acquiring an additional 500 shares during the period. Kestra Investment Management LLC raised its stake in Qorvo by 61.6% during the 3rd quarter. Kestra Investment Management LLC now owns 6,403 shares of the semiconductor company’s stock valued at $661,000 after acquiring an additional 2,441 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Qorvo during the 3rd quarter worth approximately $226,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Stock Performance

Shares of QRVO opened at $72.41 on Tuesday. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The stock has a market cap of $6.76 billion, a P/E ratio of 258.61, a PEG ratio of 15.57 and a beta of 1.48. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $76.74 and a two-hundred day moving average of $80.06.

Analysts Set New Price Targets

QRVO has been the topic of a number of recent research reports. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the company 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 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. Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Mizuho boosted their target price on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and an average price target of $95.84.

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.