J. Safra Sarasin Holding AG Buys New Stake in Qorvo, Inc. (NASDAQ:QRVO)

J. Safra Sarasin Holding AG purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,664 shares of the semiconductor company's stock, valued at approximately $1,515,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alexander Randolph Advisory Inc. increased its holdings in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after buying an additional 140 shares in the last quarter. Huntington National Bank grew its holdings in shares of Qorvo by 47.1% in the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 145 shares during the period. Truvestments Capital LLC increased its stake in Qorvo by 7.2% in the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock valued at $194,000 after purchasing an additional 185 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in 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 last quarter. Finally, Versant Capital Management Inc boosted its position in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 286 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Trading Down 0.7 %

NASDAQ:QRVO traded down $0.46 on Monday, hitting $63.32. 539,661 shares of the stock were exchanged, compared to its average volume of 2,142,389. The stock has a fifty day moving average of $67.31 and a 200-day moving average of $73.95. The stock has a market cap of $5.91 billion, a PE ratio of 225.61, a PEG ratio of 15.57 and a beta of 1.43. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QRVO. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Benchmark reissued a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group reduced their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $94.79.

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.