Sumitomo Mitsui Trust Group Inc. Sells 8,018 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,466 shares of the semiconductor company’s stock after selling 8,018 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Qorvo worth $14,788,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mediolanum International Funds Ltd bought a new position in shares of Qorvo in the fourth quarter valued at approximately $1,177,000. GDS Wealth Management bought a new position in shares of Qorvo in the third quarter valued at approximately $2,171,000. Robeco Institutional Asset Management B.V. raised its position in shares of 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 purchasing an additional 236,590 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Qorvo by 245.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock valued at $1,024,000 after purchasing an additional 10,405 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Qorvo in the third quarter valued at approximately $2,507,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 0.5 %

Shares of NASDAQ QRVO opened at $77.01 on Thursday. The stock has a market cap of $7.19 billion, a PE ratio of 275.04, a PEG ratio of 15.93 and a beta of 1.41. The business has a fifty day moving average of $75.56 and a two-hundred day moving average of $88.78. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60.

Insider Buying and Selling at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group dropped their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Citigroup lowered 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. Barclays lowered their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Craig Hallum lowered their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $95.84.

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.