Plato Investment Management Ltd Buys 4,879 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Plato Investment Management Ltd lifted its position in Qorvo, Inc. (NASDAQ:QRVO) by 1,959.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,128 shares of the semiconductor company’s stock after buying an additional 4,879 shares during the quarter. Plato Investment Management Ltd’s holdings in Qorvo were worth $360,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in shares of Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock valued at $57,125,000 after acquiring an additional 645,829 shares during the period. KBC Group NV grew its holdings in Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after purchasing an additional 637,087 shares during the period. Thrivent Financial for Lutherans grew its holdings in Qorvo by 140.2% during the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after purchasing an additional 487,621 shares during the period. Principal Financial Group Inc. increased its position in 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 buying an additional 349,078 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after buying an additional 236,590 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by insiders.

Qorvo Trading Down 0.5 %

QRVO opened at $69.27 on Wednesday. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 247.39, a P/E/G ratio of 15.57 and a beta of 1.48. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The company has a 50-day simple moving average of $77.04 and a 200 day simple moving average of $85.44.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QRVO. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group decreased their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Loop Capital raised their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Barclays reduced their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.84.

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.