Candriam Luxembourg S.C.A. reduced its holdings in shares of Qorvo Inc (NASDAQ:QRVO) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,865 shares of the semiconductor company’s stock after selling 14,935 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Qorvo were worth $5,098,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Qorvo by 4.7% during the 4th quarter. Rhumbline Advisers now owns 245,919 shares of the semiconductor company’s stock valued at $28,583,000 after buying an additional 11,061 shares during the last quarter. Mastrapasqua Asset Management Inc. bought a new position in Qorvo during the fourth quarter worth $958,000. Highland Capital Management LLC bought a new position in Qorvo during the fourth quarter worth $232,000. ANTIPODES PARTNERS Ltd bought a new position in Qorvo during the fourth quarter worth $48,453,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Qorvo by 7.7% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,707 shares of the semiconductor company’s stock worth $2,551,000 after purchasing an additional 1,625 shares during the last quarter. Institutional investors own 92.38% of the company’s stock.
QRVO stock opened at $106.02 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.23 and a current ratio of 4.21. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 1.60 and a beta of 1.24. Qorvo Inc has a 1 year low of $58.52 and a 1 year high of $122.37. The stock’s fifty day moving average is $112.11 and its two-hundred day moving average is $92.83.
QRVO has been the topic of several research analyst reports. Susquehanna Bancshares raised their price objective on Qorvo from $70.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Benchmark raised their price objective on Qorvo from $100.00 to $127.00 and gave the stock a “positive” rating in a research note on Monday, December 16th. Cowen restated an “outperform” rating and set a $140.00 price objective (up from $125.00) on shares of Qorvo in a research note on Thursday, January 30th. ValuEngine cut Qorvo from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Finally, Summit Insights upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $112.37.
In other Qorvo news, VP Gina Harrison sold 1,328 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $109.16, for a total value of $144,964.48. Following the sale, the vice president now directly owns 17,058 shares in the company, valued at $1,862,051.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James L. Klein sold 1,906 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $114.76, for a total value of $218,732.56. Following the completion of the sale, the vice president now owns 45,759 shares in the company, valued at $5,251,302.84. The disclosure for this sale can be found here. Insiders sold 3,734 shares of company stock worth $414,692 over the last quarter. 0.71% of the stock is currently owned by company insiders.
Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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