J. Safra Sarasin Holding AG Makes New $1.52 Million Investment in Qorvo, Inc. (NASDAQ:QRVO)

J. Safra Sarasin Holding AG purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,664 shares of the semiconductor company’s stock, valued at approximately $1,515,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Rakuten Securities Inc. acquired a new stake in Qorvo during the 4th quarter worth approximately $28,000. Huntington National Bank raised its stake in shares of Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Qorvo in the fourth quarter valued at $37,000. Versant Capital Management Inc grew its stake in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 286 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 1.6 %

Shares of NASDAQ:QRVO opened at $59.12 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock has a market cap of $5.52 billion, a P/E ratio of 211.14, a P/E/G ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The firm has a fifty day moving average price of $68.17 and a 200 day moving average price of $74.95.

Analyst Ratings Changes

Several brokerages have recently issued reports on QRVO. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Loop Capital lifted their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Barclays reissued a “reduce” rating on shares of Qorvo in a research report on Tuesday. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus cut their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $94.79.

Qorvo Company 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.