Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,551 shares of the semiconductor company’s stock after selling 2,841 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Qorvo were worth $2,976,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Qorvo during the fourth quarter valued at about $71,825,000. Amundi boosted its position in shares of Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after purchasing an additional 981,519 shares in the last quarter. Wealthfront Advisers LLC boosted its position in shares of Qorvo by 8,535.6% during the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock valued at $65,153,000 after purchasing an additional 920,901 shares in the last quarter. 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. Finally, KBC Group NV lifted its stake in Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock valued at $75,328,000 after purchasing an additional 637,087 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on QRVO. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Stifel Nicolaus decreased their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group cut their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Mizuho raised 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. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.84.

Qorvo Trading Down 7.8 %

NASDAQ:QRVO opened at $56.35 on Friday. The company has a market capitalization of $5.26 billion, a P/E ratio of 201.25, a P/E/G ratio of 15.57 and a beta of 1.43. The stock’s 50 day moving average price is $74.91 and its 200 day moving average price is $79.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a 52 week low of $53.90 and a 52 week high of $130.99.

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.