Edgestream Partners L.P. Purchases New Stake in Qorvo, Inc. (NASDAQ:QRVO)

Edgestream Partners L.P. bought a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,131 shares of the semiconductor company's stock, valued at approximately $639,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QRVO. Larson Financial Group LLC increased its position in Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after buying an additional 201 shares during the period. SBI Securities Co. Ltd. bought a new position in Qorvo in the 4th quarter worth approximately $37,000. Versant Capital Management Inc increased its position in Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock worth $42,000 after buying an additional 286 shares during the period. Farther Finance Advisors LLC increased its position in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after buying an additional 104 shares during the period. 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 buying an additional 250 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Price Performance

Qorvo stock traded up $2.27 on Friday, reaching $71.39. The company's stock had a trading volume of 1,556,301 shares, compared to its average volume of 2,871,726. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 254.96, a PEG ratio of 15.57 and a beta of 1.48. The business's fifty day moving average price is $77.18 and its 200 day moving average price is $83.05. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99.

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Wall Street Analysts Forecast Growth

QRVO has been the topic of several recent analyst reports. Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Barclays lowered their price objective on Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Stifel Nicolaus lowered their price objective on Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered their price objective on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Finally, Loop Capital boosted their price objective on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research report 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.