Amalgamated Bank Boosts Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Amalgamated Bank raised its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 57.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,443 shares of the semiconductor company's stock after acquiring an additional 10,758 shares during the quarter. Amalgamated Bank's holdings in Qorvo were worth $2,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Qorvo by 19.2% in the 4th quarter. Bank of New York Mellon Corp now owns 778,408 shares of the semiconductor company's stock worth $54,434,000 after buying an additional 125,463 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Qorvo by 9.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 19,487 shares of the semiconductor company's stock worth $1,363,000 after purchasing an additional 1,653 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Qorvo by 9.8% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 10,100 shares of the semiconductor company's stock worth $706,000 after purchasing an additional 900 shares in the last quarter. Alexander Randolph Advisory Inc. lifted its holdings in shares of Qorvo by 1.0% during the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after purchasing an additional 140 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC acquired a new stake in shares of Qorvo in the 4th quarter worth $203,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Qorvo Stock Performance

QRVO traded up $0.07 on Thursday, reaching $71.21. The stock had a trading volume of 582,181 shares, compared to its average volume of 2,917,696. The business's 50-day moving average price is $76.99 and its two-hundred day moving average price is $85.14. The company has a market cap of $6.65 billion, a P/E ratio of 253.16, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Analysts Set New Price Targets

Several research analysts recently issued reports on QRVO shares. Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Loop Capital raised their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Stifel Nicolaus dropped their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Citigroup reduced their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research note on Wednesday, January 29th. Finally, Mizuho boosted their price target on Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.