Qorvo, Inc. (NASDAQ:QRVO) Position Lessened by Vinva Investment Management Ltd

Vinva Investment Management Ltd decreased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 49.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,415 shares of the semiconductor company’s stock after selling 3,340 shares during the period. Vinva Investment Management Ltd’s holdings in Qorvo were worth $238,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mediolanum International Funds Ltd bought a new stake in shares of Qorvo in the 4th quarter worth approximately $1,177,000. Janney Montgomery Scott LLC increased its position 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 acquiring an additional 10,405 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Qorvo in the 3rd quarter valued at approximately $2,507,000. Virtu Financial LLC acquired a new stake in Qorvo in the 3rd quarter valued at approximately $1,211,000. Finally, Paloma Partners Management Co acquired a new stake in Qorvo in the 3rd quarter valued at approximately $5,165,000. Institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on QRVO. The Goldman Sachs Group lowered their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Loop Capital raised their target price on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Barclays lowered their price target on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Stifel Nicolaus lowered their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.84.

Qorvo Stock Performance

Shares of Qorvo stock opened at $71.80 on Friday. The stock has a market cap of $6.71 billion, a PE ratio of 256.43, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The business has a fifty day simple moving average of $77.14 and a 200-day simple moving average of $81.80. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99.

Qorvo 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.