Qorvo, Inc. (NASDAQ:QRVO) Stake Raised by Andra AP fonden

Andra AP fonden increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,154 shares of the semiconductor company's stock after acquiring an additional 35,154 shares during the quarter. Andra AP fonden owned about 0.20% of Qorvo worth $12,948,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Qorvo by 12.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,552 shares of the semiconductor company's stock valued at $470,000 after purchasing an additional 501 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock valued at $43,000 after buying an additional 104 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Qorvo by 8.3% during the 3rd quarter. QRG Capital Management Inc. now owns 9,022 shares of the semiconductor company's stock worth $932,000 after buying an additional 695 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Qorvo by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 109,100 shares of the semiconductor company's stock valued at $11,270,000 after buying an additional 1,426 shares during the period. Finally, Hara Capital LLC acquired a new position in Qorvo in the third quarter valued at approximately $107,000. Institutional investors and hedge funds own 88.57% of the company's stock.

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Analyst Upgrades and Downgrades

QRVO has been the subject of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of Qorvo in a research note on Wednesday, January 29th. Barclays cut their price target on Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Mizuho lifted their price target on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Citigroup cut their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $95.84.

Qorvo Price Performance

Shares of NASDAQ QRVO traded down $1.74 on Wednesday, hitting $69.32. The company's stock had a trading volume of 2,076,966 shares, compared to its average volume of 2,905,873. The stock has a 50 day moving average of $77.19 and a 200-day moving average of $83.75. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 247.57, 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. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99.

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.