Inceptionr LLC Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Inceptionr LLC acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,043 shares of the semiconductor company's stock, valued at approximately $423,000.

Other large investors also recently modified their holdings of the company. Mediolanum International Funds Ltd acquired a new position in Qorvo during the 4th quarter worth $1,177,000. GDS Wealth Management bought a new stake in shares of Qorvo during the third quarter worth $2,171,000. Janney Montgomery Scott LLC lifted its stake in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after acquiring an additional 10,405 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Qorvo in the third quarter valued at about $2,507,000. Finally, Quest Partners LLC increased its position in Qorvo by 504.6% in the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company's stock worth $1,198,000 after purchasing an additional 9,678 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. 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. Citigroup cut their price target on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday, January 29th. Barclays dropped their price objective on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Finally, Mizuho raised their target price on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $95.84.

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Qorvo Stock Performance

NASDAQ QRVO traded down $1.74 on Wednesday, reaching $69.32. The stock had a trading volume of 2,076,956 shares, compared to its average volume of 2,901,048. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The company has a market cap of $6.47 billion, a P/E ratio of 247.57, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The firm has a fifty day moving average of $77.19 and a two-hundred day moving average of $83.75. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99.

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.