Resona Asset Management Co. Ltd. Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Resona Asset Management Co. Ltd. purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,826 shares of the semiconductor company’s stock, valued at approximately $1,881,000.

A number of other large investors also recently made changes to their positions in the stock. Rakuten Securities Inc. bought a new stake in shares of Qorvo in the 4th quarter valued at $28,000. Huntington National Bank increased its position in shares of Qorvo by 47.1% in the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Qorvo in the 4th quarter valued at $37,000. Versant Capital Management Inc increased its position in shares of Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Qorvo by 67.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Up 22.2 %

Shares of QRVO stock opened at $62.11 on Thursday. The firm has a 50 day moving average price of $72.03 and a two-hundred day moving average price of $77.76. 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 company has a market capitalization of $5.80 billion, a PE ratio of 221.82, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $130.99.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QRVO. Citigroup lowered their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group lowered their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Barclays lowered their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Loop Capital increased their target price on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently 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.