EntryPoint Capital LLC Buys New Shares in Qorvo, Inc. (NASDAQ:QRVO)

EntryPoint Capital LLC bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,088 shares of the semiconductor company's stock, valued at approximately $286,000.

A number of other large investors also recently made changes to their positions in the business. Amundi boosted its holdings in shares of Qorvo by 84.4% during the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after purchasing an additional 981,519 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Qorvo by 8,535.6% during the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock valued at $65,153,000 after buying an additional 920,901 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Qorvo by 377.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock valued at $57,125,000 after buying an additional 645,829 shares during the period. KBC Group NV grew its holdings in shares of Qorvo by 144.8% during the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after acquiring an additional 637,087 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Qorvo by 320.0% in the fourth quarter. Principal Financial Group Inc. now owns 458,178 shares of the semiconductor company's stock worth $32,040,000 after acquiring an additional 349,078 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on QRVO. Needham & Company LLC reissued a "buy" rating and set a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Citigroup lowered their price target on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research note on Wednesday, January 29th. Barclays cut their price objective on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Loop Capital boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus dropped their price target on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, Qorvo currently has a consensus rating of "Hold" and a consensus price target of $95.84.

Qorvo Stock Performance

QRVO traded down $0.18 during midday trading on Tuesday, reaching $72.23. The company's stock had a trading volume of 1,130,239 shares, compared to its average volume of 2,006,752. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The stock has a market cap of $6.75 billion, a P/E ratio of 257.96, a PEG ratio of 15.57 and a beta of 1.48. The company has a fifty day simple moving average of $76.44 and a 200 day simple moving average of $79.81. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Qorvo Company 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.