13,890 Shares in Qorvo, Inc. (NASDAQ:QRVO) Acquired by Heron Bay Capital Management

Heron Bay Capital Management bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,890 shares of the semiconductor company's stock, valued at approximately $971,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Amundi raised its holdings in shares of Qorvo by 84.4% during the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after purchasing an additional 981,519 shares during the last quarter. Wealthfront Advisers LLC grew its position in Qorvo by 8,535.6% during the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock worth $65,153,000 after purchasing an additional 920,901 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Qorvo by 377.6% during 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 buying an additional 645,829 shares during the last quarter. KBC Group NV lifted its holdings in shares of Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after buying an additional 637,087 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Qorvo by 320.0% in 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. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $85.00 to $110.00 in a research report on Monday, January 27th. StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Citigroup lowered their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a report on Wednesday, January 29th. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group lowered their target price on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Qorvo has an average rating of "Hold" and an average target price of $95.84.

Qorvo Stock Down 1.7 %

Shares of QRVO stock traded down $1.31 during trading on Thursday, reaching $73.69. The company's stock had a trading volume of 1,353,508 shares, compared to its average volume of 1,921,635. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 263.18, a P/E/G ratio of 15.57 and a beta of 1.48. The stock's 50-day moving average price is $77.24 and its 200 day moving average price is $80.88.

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.