Franklin Resources Inc. Buys 30,904 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Franklin Resources Inc. increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 58.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,718 shares of the semiconductor company's stock after purchasing an additional 30,904 shares during the period. Franklin Resources Inc. owned 0.09% of Qorvo worth $5,854,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QRVO. Rakuten Securities Inc. bought a new position in Qorvo during the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Qorvo in the 4th quarter worth approximately $37,000. Versant Capital Management Inc raised its holdings in shares of 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 purchasing an additional 286 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Qorvo by 67.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after buying an additional 250 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in Qorvo by 2,621.4% in the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock worth $53,000 after buying an additional 734 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Needham & Company LLC reissued a "buy" rating and issued a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Loop Capital upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Stifel Nicolaus cut their target price 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. Finally, StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Three equities research 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 data from MarketBeat.com, Qorvo presently has an average rating of "Hold" and an average price target of $95.84.

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Qorvo Stock Performance

QRVO traded down $0.44 during trading on Tuesday, hitting $58.49. The stock had a trading volume of 173,019 shares, compared to its average volume of 2,106,557. 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, Inc. has a 12 month low of $49.46 and a 12 month high of $130.99. The company has a 50 day simple moving average of $70.51 and a 200-day simple moving average of $76.60. The firm has a market cap of $5.46 billion, a PE ratio of 208.71, a P/E/G ratio of 15.57 and a beta of 1.43.

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.