Amundi Boosts Position in Qorvo, Inc. (NASDAQ:QRVO)

Amundi raised its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 84.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,143,858 shares of the semiconductor company's stock after buying an additional 981,519 shares during the period. Amundi owned about 2.30% of Qorvo worth $156,673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QRVO. Larson Financial Group LLC increased its holdings in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after buying an additional 201 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Qorvo in the fourth quarter worth approximately $37,000. Versant Capital Management Inc boosted its position in shares of Qorvo by 89.7% in 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 during the period. Farther Finance Advisors LLC boosted its position in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 104 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Qorvo by 67.4% in 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 period. 88.57% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms have weighed in on QRVO. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Mizuho upped their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Citigroup dropped their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Qorvo currently has a consensus rating of "Hold" and an average price target of $95.84.

Qorvo Trading Down 0.3 %

Shares of QRVO traded down $0.20 during midday trading on Thursday, hitting $69.12. The stock had a trading volume of 1,943,531 shares, compared to its average volume of 2,898,708. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The firm has a market cap of $6.46 billion, a PE ratio of 246.86, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock's 50 day moving average is $77.18 and its 200 day moving average is $83.65.

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.