Mirae Asset Global Investments Co. Ltd. Has $8.91 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 9.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 124,794 shares of the semiconductor company’s stock after selling 12,947 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.13% of Qorvo worth $8,913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Qorvo during the second quarter valued at about $535,000. Czech National Bank lifted its holdings in Qorvo by 5.0% during the third quarter. Czech National Bank now owns 19,324 shares of the semiconductor company’s stock worth $1,996,000 after acquiring an additional 926 shares during the period. GAMMA Investing LLC boosted its position in Qorvo by 9.2% in the third quarter. GAMMA Investing LLC now owns 2,040 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 172 shares during the last quarter. UMB Bank n.a. grew its stake in Qorvo by 33.8% in the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 186 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Qorvo during the 3rd quarter valued at $41,000. 88.57% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Qorvo Price Performance

Qorvo stock opened at $77.03 on Friday. The business has a 50-day simple moving average of $75.01 and a 200 day simple moving average of $90.27. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 275.11, a PEG ratio of 16.76 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.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Craig Hallum cut their price target on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Bank of America lowered their price target on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus reduced their price objective on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Qorvo in a research note on Wednesday, January 29th. Three equities 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.84.

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.