Mirae Asset Global Investments Co. Ltd. Decreases Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,794 shares of the semiconductor company’s stock after selling 12,947 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Qorvo were worth $8,913,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Qorvo in the third quarter worth about $41,000. Farther Finance Advisors LLC lifted its stake in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 286 shares during the period. Finally, UMB Bank n.a. grew its position in Qorvo by 33.8% during the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 186 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction on Thursday, December 5th. The stock was 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 of the company’s stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

QRVO has been the subject of a number of analyst reports. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group decreased their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Mizuho increased their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. Finally, Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Qorvo currently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Trading Down 2.4 %

Shares of NASDAQ QRVO opened at $77.03 on Friday. The firm’s 50 day moving average price is $75.01 and its 200-day moving average price is $90.27. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The company has a market cap of $7.19 billion, a PE ratio of 275.11, a P/E/G ratio of 16.76 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.