Proficio Capital Partners LLC Buys Shares of 11,608 Qorvo, Inc. (NASDAQ:QRVO)

Proficio Capital Partners LLC acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,608 shares of the semiconductor company's stock, valued at approximately $812,000.

Several other institutional investors have also recently made changes to their positions in the company. Mediolanum International Funds Ltd acquired a new stake in Qorvo during the fourth quarter valued at $1,177,000. GDS Wealth Management purchased a new stake in shares of Qorvo during the 3rd quarter worth about $2,171,000. Janney Montgomery Scott LLC increased its stake in shares of Qorvo by 245.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after purchasing an additional 10,405 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Qorvo in the 3rd quarter valued at about $2,507,000. Finally, Quest Partners LLC raised its holdings in Qorvo by 504.6% in the 3rd 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 owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on QRVO shares. The Goldman Sachs Group cut their price objective on Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Benchmark restated a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Stifel Nicolaus decreased their price target 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, Morgan Stanley upgraded Qorvo from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $95.84.

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Qorvo Trading Down 2.5 %

Shares of NASDAQ QRVO traded down $1.75 during midday trading on Wednesday, reaching $69.31. 1,188,372 shares of the stock were exchanged, compared to its average volume of 2,899,221. The company has a 50 day simple moving average of $77.19 and a 200 day simple moving average of $83.75. 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 stock has a market capitalization of $6.47 billion, a P/E ratio of 247.42, a PEG ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month 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.