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

Swiss National Bank cut its position in Qorvo, Inc. (NASDAQ:QRVO) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,945 shares of the semiconductor company’s stock after selling 14,100 shares during the quarter. Swiss National Bank’s holdings in Qorvo were worth $18,737,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd bought a new position in shares of Qorvo in the 4th quarter valued at about $1,177,000. Janney Montgomery Scott LLC lifted its stake in Qorvo by 245.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock valued at $1,024,000 after purchasing an additional 10,405 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Qorvo during the third quarter worth about $2,507,000. Quest Partners LLC increased its position in Qorvo by 504.6% during the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock worth $1,198,000 after buying an additional 9,678 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Qorvo in the third quarter valued at approximately $1,211,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QRVO. Mizuho boosted their target price on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. Benchmark restated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Citigroup decreased their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average target price of $95.84.

Qorvo Stock Performance

QRVO opened at $72.02 on Wednesday. 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. The firm has a market cap 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 business’s fifty day moving average is $77.17 and its 200-day moving average is $82.25.

About Qorvo

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.