Paradigm Asset Management Co. LLC Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Paradigm Asset Management Co. LLC bought a new position in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,900 shares of the semiconductor company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 104 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Qorvo by 3.7% in the 3rd 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 boosted its holdings in shares of Qorvo by 1.0% in the 3rd 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 grew its position in Qorvo by 7.5% during the 3rd 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 during the last quarter. Finally, Larson Financial Group LLC increased its holdings in Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 1.3 %

Qorvo stock opened at $76.07 on Friday. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 271.68, a P/E/G ratio of 15.93 and a beta of 1.41. The firm has a 50-day moving average of $76.69 and a 200-day moving average of $87.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99.

Insider Buying and Selling

In other news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QRVO. Mizuho boosted their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Stifel Nicolaus reduced their price target on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Barclays lowered their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Citigroup reduced their target price on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Finally, BNP Paribas cut shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $95.84.

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.