Andra AP fonden Acquires 35,154 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Andra AP fonden increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 185,154 shares of the semiconductor company’s stock after acquiring an additional 35,154 shares during the quarter. Andra AP fonden owned about 0.20% of Qorvo worth $12,948,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Mediolanum International Funds Ltd bought a new position in Qorvo during the fourth quarter worth about $1,177,000. GDS Wealth Management bought a new position in Qorvo during the third quarter worth about $2,171,000. Janney Montgomery Scott LLC increased its position in Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after acquiring an additional 10,405 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Qorvo during the third quarter worth about $2,507,000. Finally, Quest Partners LLC grew its stake in Qorvo by 504.6% during the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock worth $1,198,000 after buying an additional 9,678 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Stock Up 7.9 %

NASDAQ:QRVO opened at $76.80 on Friday. The firm’s 50 day simple moving average is $76.98 and its 200 day simple moving average is $84.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The company has a market cap of $7.17 billion, a PE ratio of 274.29, a P/E/G ratio of 15.57 and a beta of 1.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup reduced their price objective on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group reduced their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Benchmark reiterated 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 given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.