Tokio Marine Asset Management Co. Ltd. Acquires 666 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Tokio Marine Asset Management Co. Ltd. grew its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 24.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,446 shares of the semiconductor company’s stock after acquiring an additional 666 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Qorvo were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Qorvo by 163.4% during the third 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 during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Qorvo during the third quarter worth $41,000. Versant Capital Management Inc raised its stake 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. Farther Finance Advisors LLC lifted its holdings in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Qorvo by 33.8% during the 3rd quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

QRVO has been the subject of a number of recent research reports. 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. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Bank of America decreased their price objective on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Three 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 a consensus rating of “Hold” and an average target price of $95.84.

Qorvo Stock Up 0.9 %

NASDAQ:QRVO opened at $82.59 on Thursday. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The stock has a 50-day moving average price of $74.80 and a two-hundred day moving average price of $90.35. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 294.96, a PEG ratio of 16.76 and a beta of 1.41. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Insider Buying and Selling at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the 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 completion of the sale, the senior vice president now owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

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.