Brandes Investment Partners LP boosted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 306,618 shares of the semiconductor company's stock after purchasing an additional 35,318 shares during the period. Brandes Investment Partners LP owned about 0.33% of Qorvo worth $21,442,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Amundi increased its holdings in Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after buying an additional 981,519 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Qorvo by 7.1% in the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock worth $157,920,000 after buying an additional 101,742 shares during the period. KBC Group NV lifted its holdings in Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after purchasing an additional 637,087 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in Qorvo by 8,535.6% in the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock worth $65,153,000 after buying an additional 920,901 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Qorvo by 140.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock worth $86,290,000 after acquiring an additional 487,621 shares during the period. Institutional investors own 88.57% of the company's stock.
Qorvo Stock Up 0.2 %
NASDAQ:QRVO traded up $0.16 during mid-day trading on Wednesday, reaching $72.18. The stock had a trading volume of 1,547,917 shares, compared to its average volume of 1,859,983. The business's 50 day moving average is $77.17 and its 200 day moving average is $82.25. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The stock has a market cap of $6.74 billion, a P/E ratio of 257.79, a PEG 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.
Wall Street Analyst Weigh In
A number of equities analysts have commented on QRVO shares. Needham & Company LLC reissued a "buy" rating and issued a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. The Goldman Sachs Group dropped their price objective on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Barclays decreased their price objective on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Finally, Benchmark restated a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $95.84.
Check Out Our Latest Stock Analysis on Qorvo
About Qorvo
(
Free Report)
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.
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