Korea Investment CORP Raises Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Korea Investment CORP raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 26.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,737 shares of the semiconductor company’s stock after acquiring an additional 18,489 shares during the period. Korea Investment CORP owned approximately 0.10% of Qorvo worth $6,275,000 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 the company. Rakuten Securities Inc. acquired a new stake in Qorvo during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Qorvo in the fourth quarter worth $37,000. Versant Capital Management Inc lifted its holdings in shares of 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 in the last quarter. Venturi Wealth Management LLC boosted its position in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in 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 purchasing an additional 734 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Up 1.3 %

Qorvo stock opened at $72.41 on Tuesday. 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 1 year low of $64.54 and a 1 year high of $130.99. The firm’s 50-day moving average is $76.74 and its 200-day moving average is $80.06. The company has a market cap of $6.76 billion, a P/E ratio of 258.61, a PEG ratio of 15.57 and a beta of 1.48.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Loop Capital increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group reduced their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $95.84.

Qorvo Company 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.