Meeder Asset Management Inc. Boosts Stake in Qorvo, Inc. (NASDAQ:QRVO)

Meeder Asset Management Inc. lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 85.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,471 shares of the semiconductor company’s stock after purchasing an additional 5,730 shares during the period. Meeder Asset Management Inc.’s holdings in Qorvo were worth $872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of QRVO. Amundi increased its position in shares of Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after buying an additional 981,519 shares in the last quarter. KBC Group NV grew its stake in Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock valued at $75,328,000 after acquiring an additional 637,087 shares during the period. Thrivent Financial for Lutherans increased its holdings in Qorvo by 27.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,067,065 shares of the semiconductor company’s stock worth $74,620,000 after acquiring an additional 231,729 shares in the last quarter. Norges Bank purchased a new position in Qorvo during the fourth quarter valued at $71,825,000. Finally, Wealthfront Advisers LLC grew its position in shares of Qorvo by 8,535.6% in the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock valued at $65,153,000 after purchasing an additional 920,901 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QRVO. The Goldman Sachs Group decreased their price target 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. Citigroup decreased their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Stifel Nicolaus dropped their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Loop Capital raised their price objective on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Barclays dropped their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Price Performance

QRVO stock opened at $72.41 on Tuesday. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 258.61, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The business has a fifty day moving average of $76.74 and a two-hundred day moving average of $80.06.

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.