Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) PT at $95.84

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) has been assigned an average rating of "Hold" from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $94.79.

A number of brokerages recently issued reports on QRVO. Citigroup decreased their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research report on Wednesday, January 29th. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. The Goldman Sachs Group cut their price objective on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Barclays reaffirmed a "reduce" rating on shares of Qorvo in a research report on Tuesday. Finally, Loop Capital upped their price objective on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th.

Qorvo Price Performance

Qorvo stock traded up $0.11 during midday trading on Tuesday, reaching $63.62. 474,720 shares of the company were exchanged, compared to its average volume of 2,138,630. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 227.96, a P/E/G 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 firm's 50-day simple moving average is $67.59 and its 200-day simple moving average is $74.59. Qorvo has a 1 year low of $49.46 and a 1 year high of $130.99.

Hedge Funds Weigh In On Qorvo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its position in shares of Qorvo by 102.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock worth $251,577,000 after buying an additional 1,816,811 shares during the last quarter. Norges Bank bought a new position in shares of Qorvo during the fourth quarter valued at approximately $71,825,000. Amundi raised its position in shares of Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after purchasing an additional 981,519 shares during the period. Wealthfront Advisers LLC boosted its position in Qorvo by 8,535.6% during 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. Finally, Vulcan Value Partners LLC increased its position in Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock worth $180,487,000 after buying an additional 902,353 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

About Qorvo

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.