Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by FIL Ltd

FIL Ltd lifted its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,324,241 shares of the semiconductor company's stock after purchasing an additional 166,461 shares during the quarter. FIL Ltd owned approximately 3.56% of Qorvo worth $232,464,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Amundi increased its stake in Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock valued at $156,673,000 after purchasing an additional 981,519 shares during the period. KBC Group NV increased its position in Qorvo by 144.8% in 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 during the period. Thrivent Financial for Lutherans raised its stake in Qorvo by 27.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,067,065 shares of the semiconductor company's stock valued at $74,620,000 after acquiring an additional 231,729 shares during the last quarter. Norges Bank acquired a new stake in Qorvo during the 4th quarter worth approximately $71,825,000. Finally, Wealthfront Advisers LLC grew its stake in shares of Qorvo by 8,535.6% in the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock valued at $65,153,000 after purchasing an additional 920,901 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have recently commented on QRVO. StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group cut their price objective on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Barclays lowered their target price on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Needham & Company LLC reissued a "buy" rating and set a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. Finally, Piper Sandler raised Qorvo from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $85.00 to $110.00 in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Qorvo currently has a consensus rating of "Hold" and a consensus price target of $95.84.

Qorvo Trading Up 5.0 %

NASDAQ:QRVO traded up $2.79 during trading hours on Monday, reaching $59.06. 400,656 shares of the company were exchanged, compared to its average volume of 2,106,629. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 210.93, a PEG ratio of 15.57 and a beta of 1.43. The stock has a 50 day simple moving average of $70.99 and a 200 day simple moving average of $76.91. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week 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.

Qorvo 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.