11,979 Shares in Qorvo, Inc. (NASDAQ:QRVO) Bought by Kennondale Capital Management LLC

Kennondale Capital Management LLC purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,979 shares of the semiconductor company's stock, valued at approximately $838,000.

Several other large investors have also recently added to or reduced their stakes in QRVO. Amundi grew its stake in shares of Qorvo by 84.4% in the 4th 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. 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 period. Assenagon Asset Management S.A. grew its stake in shares of Qorvo by 377.6% in 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 purchasing an additional 645,829 shares during the period. KBC Group NV grew its stake in shares of 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 purchasing an additional 637,087 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock valued at $86,290,000 after purchasing an additional 487,621 shares during the period. Institutional investors and hedge funds own 88.57% of the company's stock.

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Qorvo Trading Down 0.8 %

Shares of QRVO stock traded down $0.56 during trading hours on Friday, reaching $71.80. The company had a trading volume of 11,976,241 shares, compared to its average volume of 1,905,009. The company has a 50 day moving average of $77.14 and a 200 day moving average of $81.80. 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 firm has a market cap of $6.71 billion, a price-to-earnings ratio of 256.43, a P/E/G ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QRVO shares. 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 note on Friday, January 17th. Citigroup lowered their price objective on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley upgraded Qorvo from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Finally, Loop Capital increased their price target on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $95.84.

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.