Mitsubishi UFJ Trust & Banking Corp Has $1.73 Million Holdings in Qorvo, Inc. $QRVO

Key Points

• Mitsubishi UFJ Trust & Banking Corp raised its stake in Qorvo by 241% in Q4 to 20,417 shares, a holding valued at about $1.73 million.
• Institutional investors and hedge funds own roughly 88.57% of Qorvo's stock, with several firms making new or increased small stakes recently.
• Analyst sentiment is mixed-to-cautious: the MarketBeat consensus is a "Hold" with an average target price near $93.94, after multiple downgrades and price-target cuts.

Mitsubishi UFJ Trust & Banking Corp raised its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 241.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,417 shares of the semiconductor company's stock after acquiring an additional 14,429 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Qorvo were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new stake in Qorvo in the 3rd quarter valued at about $25,000. Winnow Wealth LLC acquired a new stake in Qorvo in the 3rd quarter valued at about $27,000. Stance Capital LLC acquired a new stake in Qorvo in the 3rd quarter valued at about $27,000. Salomon & Ludwin LLC acquired a new stake in Qorvo in the 3rd quarter valued at about $34,000. Finally, Sound Income Strategies LLC grew its position in shares of Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company's stock worth $30,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 88.57% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on QRVO. Zacks Research cut shares of Qorvo from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 16th. Wolfe Research cut shares of Qorvo from an "outperform" rating to a "peer perform" rating in a research report on Friday, April 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Qorvo in a research report on Monday, April 27th. Citigroup lowered their price target on shares of Qorvo from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, January 28th. Finally, Craig Hallum lowered their price target on shares of Qorvo from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $93.94.

Qorvo Stock Down 1.0%

Shares of NASDAQ:QRVO opened at $92.53 on Tuesday. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.48 and a beta of 1.42. The company has a 50 day moving average of $80.75 and a 200-day moving average of $83.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. Qorvo, Inc. has a one year low of $69.03 and a one year high of $106.30.

Qorvo Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo's product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.

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