Y Intercept Hong Kong Ltd Boosts Stake in Qorvo, Inc. (NASDAQ:QRVO)

Y Intercept Hong Kong Ltd raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,487 shares of the semiconductor company’s stock after purchasing an additional 1,653 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Qorvo were worth $1,363,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Qorvo by 7.1% in the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company’s stock valued at $157,920,000 after purchasing an additional 101,742 shares in the last quarter. KBC Group NV grew its stake in shares of Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after buying an additional 637,087 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after buying an additional 487,621 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Qorvo by 23.9% during the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company’s stock valued at $83,429,000 after buying an additional 160,534 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock valued at $57,125,000 after acquiring an additional 645,829 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on QRVO shares. Susquehanna decreased their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Mizuho increased their price target on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Three 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.84.

Insider Buying and Selling

In other news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now 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 document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Qorvo Price Performance

Shares of QRVO stock opened at $74.54 on Thursday. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $77.00 and a two-hundred day simple moving average of $86.42. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 266.21, a P/E/G ratio of 15.57 and a beta of 1.41.

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.