Swiss National Bank Sells 14,100 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Swiss National Bank decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 267,945 shares of the semiconductor company’s stock after selling 14,100 shares during the period. Swiss National Bank owned 0.29% of Qorvo worth $18,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the last quarter. Rakuten Securities Inc. bought a new position in Qorvo in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in Qorvo during the 4th quarter worth $37,000. Versant Capital Management Inc raised its position in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake 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 valued at $43,000 after purchasing an additional 250 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Stock Down 1.4 %

Shares of Qorvo stock opened at $72.02 on Wednesday. The firm has a market cap of $6.73 billion, a PE ratio of 257.21, a P/E/G ratio of 15.57 and a beta of 1.48. The business’s 50 day simple moving average is $77.17 and its 200 day simple moving average is $82.25. 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, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on QRVO shares. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Citigroup decreased 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. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. Stifel Nicolaus decreased their price objective on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, Barclays reduced their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price 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.