Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by ING Groep NV

ING Groep NV increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 13.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,400 shares of the semiconductor company’s stock after buying an additional 1,713 shares during the period. ING Groep NV’s holdings in Qorvo were worth $1,007,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Alberta Investment Management Corp increased its position in shares of Qorvo by 477.8% during the fourth quarter. Alberta Investment Management Corp now owns 36,399 shares of the semiconductor company’s stock worth $2,545,000 after acquiring an additional 30,099 shares during the last quarter. Kestra Investment Management LLC increased its holdings in Qorvo by 33.8% during the 4th quarter. Kestra Investment Management LLC now owns 8,569 shares of the semiconductor company’s stock worth $599,000 after purchasing an additional 2,166 shares during the last quarter. Venturi Wealth Management LLC raised its position 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 in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Qorvo by 320.0% during the 4th quarter. Principal Financial Group Inc. now owns 458,178 shares of the semiconductor company’s stock valued at $32,040,000 after buying an additional 349,078 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Qorvo by 181.2% during the fourth quarter. Allworth Financial LP now owns 2,598 shares of the semiconductor company’s stock worth $182,000 after buying an additional 1,674 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Trading Down 1.3 %

Qorvo stock opened at $76.07 on Monday. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The stock has a market capitalization of $7.10 billion, a PE ratio of 271.68, a price-to-earnings-growth ratio of 15.57 and a beta of 1.41. The firm has a 50 day simple moving average of $76.69 and a 200-day simple moving average of $86.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QRVO. Stifel Nicolaus cut their price target on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Finally, Loop Capital boosted their price target on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a 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 assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.84.

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.