Stoneridge Investment Partners LLC Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

Stoneridge Investment Partners LLC purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 11,209 shares of the semiconductor company’s stock, valued at approximately $784,000.

A number of other institutional investors have also recently bought and sold shares of QRVO. Sanctuary Advisors LLC acquired a new stake in Qorvo during the second quarter worth $535,000. Czech National Bank boosted its stake in Qorvo by 5.0% during the third quarter. Czech National Bank now owns 19,324 shares of the semiconductor company’s stock worth $1,996,000 after buying an additional 926 shares in the last quarter. GAMMA Investing LLC boosted its stake in Qorvo by 9.2% during the third quarter. GAMMA Investing LLC now owns 2,040 shares of the semiconductor company’s stock worth $211,000 after buying an additional 172 shares in the last quarter. UMB Bank n.a. boosted its stake in Qorvo by 33.8% during the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock worth $76,000 after buying an additional 186 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Qorvo during the third quarter worth $41,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Activity at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the business’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 directly owns 30,261 shares in the company, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

QRVO has been the topic of several recent analyst reports. Raymond James downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Craig Hallum reduced their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Barclays reduced their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three 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 company’s stock. According to MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Stock Performance

QRVO stock opened at $77.03 on Friday. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The company has a market cap of $7.19 billion, a P/E ratio of 275.11, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41. The business’s fifty day moving average is $75.17 and its 200-day moving average is $89.69.

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.