KLP Kapitalforvaltning AS Makes New $2.08 Million Investment in Qorvo, Inc. (NASDAQ:QRVO)

KLP Kapitalforvaltning AS bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, Holdings Channel reports. The fund bought 29,752 shares of the semiconductor company’s stock, valued at approximately $2,081,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi raised its stake in shares of Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock worth $156,673,000 after buying an additional 981,519 shares during the last quarter. KBC Group NV raised its holdings in shares of Qorvo by 144.8% in the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after acquiring an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Qorvo by 27.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,067,065 shares of the semiconductor company’s stock valued at $74,620,000 after acquiring an additional 231,729 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Qorvo by 8,535.6% during the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock valued at $65,153,000 after acquiring an additional 920,901 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Qorvo by 377.6% during 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 in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QRVO. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Loop Capital boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Mizuho increased their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.84.

Qorvo Stock Down 1.7 %

NASDAQ QRVO opened at $73.69 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The business has a 50 day moving average price of $77.24 and a two-hundred day moving average price of $80.88. The stock has a market cap of $6.88 billion, a PE ratio of 263.18, a P/E/G ratio of 15.57 and a beta of 1.48.

About Qorvo

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.