PGGM Investments Decreases Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

PGGM Investments reduced its position in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,450 shares of the semiconductor company’s stock after selling 189 shares during the period. PGGM Investments’ holdings in Qorvo were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Qorvo by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock worth $1,513,630,000 after buying an additional 58,395 shares during the period. BlackRock Inc. boosted its holdings in Qorvo by 1.3% in the second quarter. BlackRock Inc. now owns 8,589,281 shares of the semiconductor company’s stock valued at $876,364,000 after purchasing an additional 113,870 shares during the period. Baupost Group LLC MA boosted its holdings in Qorvo by 11.8% in the first quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after purchasing an additional 699,968 shares during the period. State Street Corp boosted its holdings in Qorvo by 0.3% in the first quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock valued at $595,916,000 after purchasing an additional 16,097 shares during the period. Finally, Barclays PLC boosted its holdings in Qorvo by 646.2% in the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after purchasing an additional 3,347,972 shares during the period. 85.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on QRVO shares. Susquehanna decreased their target price on Qorvo from $110.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, October 24th. Mizuho decreased their target price on Qorvo from $107.00 to $97.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. BMO Capital Markets decreased their target price on Qorvo from $110.00 to $100.00 and set a “market perform” rating for the company in a report on Friday, November 3rd. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, Piper Sandler decreased their price target on Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average target price of $111.17.

Read Our Latest Research Report on QRVO

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 10,580 shares of Qorvo stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $97.72, for a total transaction of $1,033,877.60. Following the sale, the senior vice president now owns 29,539 shares in the company, valued at $2,886,551.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Walden C. Rhines purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were purchased at an average price of $93.19 per share, for a total transaction of $465,950.00. Following the transaction, the director now directly owns 67,145 shares of the company’s stock, valued at approximately $6,257,242.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Philip Chesley sold 10,580 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $97.72, for a total value of $1,033,877.60. Following the completion of the transaction, the senior vice president now owns 29,539 shares in the company, valued at approximately $2,886,551.08. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

Qorvo Stock Up 3.6 %

QRVO opened at $107.33 on Tuesday. The business’s 50-day simple moving average is $105.33 and its 200-day simple moving average is $99.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. Qorvo, Inc. has a one year low of $80.62 and a one year high of $114.97. The stock has a market capitalization of $10.36 billion, a P/E ratio of -49.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55.

About Qorvo

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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