Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 16.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,079 shares of the semiconductor company’s stock after selling 1,623 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Qorvo were worth $565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QRVO. Larson Financial Group LLC lifted its stake in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Qorvo in the 3rd quarter valued at $41,000. Versant Capital Management Inc raised its stake in shares of Qorvo by 89.7% in 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. Farther Finance Advisors LLC raised 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 period. Finally, CENTRAL TRUST Co raised its stake in shares of Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 734 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QRVO. Raymond James downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. The Goldman Sachs Group decreased their price target on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Stifel Nicolaus reduced their target price on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Finally, Benchmark reissued a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Stock Up 0.5 %

NASDAQ QRVO opened at $77.01 on Thursday. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The company’s 50 day simple moving average is $75.56 and its 200 day simple moving average is $88.78. 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 company has a market capitalization of $7.19 billion, a P/E ratio of 275.04, a PEG ratio of 15.93 and a beta of 1.41.

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.