Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 212,410 shares of the semiconductor company's stock, valued at approximately $14,854,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Qorvo at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 104 shares during the last quarter. Alexander Randolph Advisory Inc. increased its position in shares of Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after acquiring an additional 140 shares during the last quarter. Martingale Asset Management L P increased its position in shares of Qorvo by 1.0% during the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company's stock valued at $1,969,000 after acquiring an additional 181 shares during the last quarter. Truvestments Capital LLC increased its position in shares of Qorvo by 7.2% during the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock valued at $194,000 after acquiring an additional 185 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 201 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Qorvo Stock Performance
Shares of Qorvo stock traded up $2.27 on Friday, hitting $71.39. The stock had a trading volume of 1,556,301 shares, compared to its average volume of 2,871,726. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week 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. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 254.96, a P/E/G ratio of 15.57 and a beta of 1.48. The company's 50 day moving average price is $77.18 and its 200 day moving average price is $82.84.
Analyst Upgrades and Downgrades
QRVO has been the subject of several recent research reports. Loop Capital raised their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. 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. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Mizuho raised their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Finally, Stifel Nicolaus lowered their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Three research 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. Based on data from MarketBeat, Qorvo presently has a consensus rating of "Hold" and an average target price of $95.84.
Read Our Latest Report on QRVO
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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