Skandinaviska Enskilda Banken AB publ Buys New Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Skandinaviska Enskilda Banken AB publ bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,500 shares of the semiconductor company’s stock, valued at approximately $174,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QRVO. Amundi increased its position in Qorvo by 84.4% in the 4th 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. Wealthfront Advisers LLC increased its position in Qorvo by 8,535.6% in the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock valued at $65,153,000 after buying an additional 920,901 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock valued at $57,125,000 after buying an additional 645,829 shares in the last quarter. KBC Group NV increased its position 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 buying an additional 637,087 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Qorvo by 320.0% in the 4th quarter. Principal Financial Group Inc. now owns 458,178 shares of the semiconductor company’s stock valued at $32,040,000 after buying an additional 349,078 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Loop Capital boosted their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Citigroup decreased their price objective on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating 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.com, the stock has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo Trading Down 1.4 %

Shares of Qorvo stock opened at $72.02 on Wednesday. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The stock’s 50-day simple moving average is $77.17 and its 200 day simple moving average is $82.25. The stock has a market capitalization of $6.73 billion, a P/E ratio of 257.21, a P/E/G ratio of 15.57 and a beta of 1.48. 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 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.