Y Intercept Hong Kong Ltd Buys 1,653 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Y Intercept Hong Kong Ltd grew its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,487 shares of the semiconductor company’s stock after purchasing an additional 1,653 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Qorvo were worth $1,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC boosted its position in Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 286 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock worth $53,000 after buying an additional 734 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on QRVO. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Craig Hallum reduced their price target on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. BNP Paribas cut Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, TD Cowen lowered their target price on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Qorvo currently has an average rating of “Hold” and an average price target of $95.84.

Insider Activity at Qorvo

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

Qorvo Price Performance

Shares of Qorvo stock opened at $74.54 on Thursday. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 266.21, a PEG ratio of 15.57 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 stock’s 50-day simple moving average is $77.00 and its 200-day simple moving average is $86.42. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99.

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.