Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 320.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 458,178 shares of the semiconductor company’s stock after buying an additional 349,078 shares during the period. Principal Financial Group Inc. owned about 0.48% of Qorvo worth $32,040,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in Qorvo by 7.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company’s stock worth $157,920,000 after buying an additional 101,742 shares during the last quarter. KBC Group NV boosted its holdings in Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after buying an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after buying an additional 487,621 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Qorvo by 23.9% during the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company’s stock worth $83,429,000 after purchasing an additional 160,534 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of 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 during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. The Goldman Sachs Group lowered 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. Citigroup lowered their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Susquehanna lowered 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. Mizuho boosted their target price on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and an average price target of $95.84.

Insiders Place Their Bets

In other news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

Qorvo Stock Down 1.3 %

Shares of Qorvo stock opened at $76.07 on Friday. The company has a market cap of $7.10 billion, a P/E ratio of 271.68, a PEG ratio of 15.93 and a beta of 1.41. 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, Inc. has a one year low of $64.54 and a one year high of $130.99. The firm has a fifty day moving average of $76.69 and a two-hundred day moving average of $87.15.

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.