Stoneridge Investment Partners LLC Buys Shares of 11,209 Qorvo, Inc. (NASDAQ:QRVO)

Stoneridge Investment Partners LLC bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,209 shares of the semiconductor company’s stock, valued at approximately $784,000.

Several other large investors have also recently bought and sold shares of QRVO. Assenagon Asset Management S.A. grew its stake 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 worth $57,125,000 after purchasing an additional 645,829 shares during the last quarter. KBC Group NV boosted its holdings in shares of Qorvo by 144.8% in the fourth 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 during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Qorvo by 140.2% in the third 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 period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock worth $55,548,000 after buying an additional 236,590 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Qorvo in the third quarter worth about $22,726,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. TD Cowen decreased their target price on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Citigroup decreased their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Finally, Susquehanna decreased their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Trading Down 2.4 %

NASDAQ:QRVO opened at $77.03 on Friday. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 275.11, a P/E/G ratio of 15.93 and a beta of 1.41. 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’s 50 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.