Allianz Asset Management GmbH Has $29.33 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Allianz Asset Management GmbH increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 419,354 shares of the semiconductor company’s stock after purchasing an additional 7,570 shares during the period. Allianz Asset Management GmbH’s holdings in Qorvo were worth $29,325,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Qorvo by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after acquiring an additional 140 shares in the last quarter. Martingale Asset Management L P lifted its holdings in Qorvo by 1.0% during the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after acquiring an additional 181 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Qorvo by 7.5% during the third quarter. Chicago Partners Investment Group LLC now owns 2,789 shares of the semiconductor company’s stock worth $280,000 after acquiring an additional 194 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 201 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group reduced their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Finally, Stifel Nicolaus cut their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report 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 currently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Price Performance

NASDAQ:QRVO opened at $76.07 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The stock’s 50-day simple moving average is $76.69 and its 200 day simple moving average is $86.95. The company has a market cap of $7.10 billion, a P/E ratio of 271.68, a P/E/G ratio of 15.57 and a beta of 1.41. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Qorvo Company 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.