Boston Partners Has $7.75 Million Stake in Qorvo, Inc. (NASDAQ:QRVO)

Boston Partners grew its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,709 shares of the semiconductor company's stock after purchasing an additional 16,735 shares during the period. Boston Partners owned approximately 0.12% of Qorvo worth $7,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Rakuten Securities Inc. purchased a new stake in shares of Qorvo in the fourth quarter worth approximately $28,000. Larson Financial Group LLC raised its holdings in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 201 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Qorvo during the fourth quarter valued at $37,000. Versant Capital Management Inc grew its stake in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 286 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in Qorvo by 67.4% in the 4th 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 last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Trading Down 0.8 %

QRVO traded down $0.63 during mid-day trading on Wednesday, hitting $75.00. The stock had a trading volume of 1,572,108 shares, compared to its average volume of 1,915,889. The stock's fifty day simple moving average is $77.22 and its 200-day simple moving average is $80.98. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 267.86, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

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Wall Street Analyst Weigh In

Several equities research analysts recently commented on QRVO shares. Needham & Company LLC reissued a "buy" rating and issued a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Benchmark restated a "hold" rating on shares of Qorvo in a report on Wednesday, January 29th. Finally, Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and increased their price target for the company from $85.00 to $110.00 in a report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.