New Age Alpha Advisors LLC Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

New Age Alpha Advisors LLC purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 31,508 shares of the semiconductor company's stock, valued at approximately $2,203,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in shares of Qorvo by 20.7% in the third quarter. Cerity Partners LLC now owns 8,020 shares of the semiconductor company's stock valued at $828,000 after buying an additional 1,373 shares during the last quarter. Larson Financial Group LLC increased its position in Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 201 shares during the period. Bank of Montreal Can raised its stake in Qorvo by 36.5% during the 3rd quarter. Bank of Montreal Can now owns 124,514 shares of the semiconductor company's stock valued at $12,900,000 after acquiring an additional 33,281 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Qorvo by 20.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 349,719 shares of the semiconductor company's stock worth $36,126,000 after acquiring an additional 58,608 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Qorvo by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 565,023 shares of the semiconductor company's stock valued at $58,367,000 after purchasing an additional 2,382 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on QRVO shares. Citigroup decreased their price target on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group reduced their target price on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Benchmark reiterated a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Stifel Nicolaus reduced their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. Finally, Loop Capital boosted their target price on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Three equities 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 stock. According to data from MarketBeat, Qorvo currently has an average rating of "Hold" and a consensus target price of $95.84.

Qorvo Price Performance

QRVO stock traded down $9.26 during trading on Thursday, hitting $63.38. The stock had a trading volume of 523,019 shares, compared to its average volume of 2,001,456. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 226.36, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The company's 50 day moving average price is $76.15 and its two-hundred day moving average price is $79.76. Qorvo, Inc. has a 1-year low of $63.27 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.