Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 477.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,399 shares of the semiconductor company’s stock after buying an additional 30,099 shares during the period. Alberta Investment Management Corp’s holdings in Qorvo were worth $2,545,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC lifted its stake in Qorvo by 33.8% during the fourth quarter. Kestra Investment Management LLC now owns 8,569 shares of the semiconductor company’s stock worth $599,000 after purchasing an additional 2,166 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Qorvo by 67.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Qorvo by 320.0% during the fourth quarter. Principal Financial Group Inc. now owns 458,178 shares of the semiconductor company’s stock worth $32,040,000 after purchasing an additional 349,078 shares during the period. Allworth Financial LP lifted its position in shares of Qorvo by 181.2% in the 4th quarter. Allworth Financial LP now owns 2,598 shares of the semiconductor company’s stock worth $182,000 after buying an additional 1,674 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Qorvo by 40.6% in the 4th quarter. Rhumbline Advisers now owns 252,286 shares of the semiconductor company’s stock valued at $17,642,000 after buying an additional 72,911 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Down 2.3 %

QRVO opened at $77.10 on Friday. 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 company has a market capitalization of $7.20 billion, a PE ratio of 275.36, a P/E/G ratio of 15.74 and a beta of 1.41. The stock’s fifty day moving average is $76.56 and its 200-day moving average is $87.35. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99.

Analyst Upgrades and Downgrades

QRVO has been the topic of several research reports. Citigroup dropped their price objective on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. The Goldman Sachs Group dropped their price target on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Craig Hallum reduced their price objective on Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. UBS Group lowered their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their target price on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Three investment 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.84.

Insider Buying and Selling

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

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.