Plato Investment Management Ltd Purchases 4,879 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Plato Investment Management Ltd lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 1,959.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,128 shares of the semiconductor company's stock after purchasing an additional 4,879 shares during the quarter. Plato Investment Management Ltd's holdings in Qorvo were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 201 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after buying an additional 104 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Qorvo during the 4th quarter valued at approximately $37,000. Versant Capital Management Inc raised its stake in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after buying an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 250 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QRVO. Stifel Nicolaus lowered their price target on Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. Loop Capital boosted their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. The Goldman Sachs Group cut their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and upped their target price for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of "Hold" and an average target price of $95.84.

Qorvo Price Performance

Shares of Qorvo stock traded up $5.60 during midday trading on Friday, reaching $76.80. The company had a trading volume of 2,995,481 shares, compared to its average volume of 2,958,509. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $76.98 and a 200 day simple moving average of $84.95. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 274.29, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48.

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.