Thrivent Financial for Lutherans Raises Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Thrivent Financial for Lutherans grew its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 27.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067,065 shares of the semiconductor company's stock after purchasing an additional 231,729 shares during the quarter. Thrivent Financial for Lutherans owned about 1.14% of Qorvo worth $74,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in QRVO. Larson Financial Group LLC lifted its position in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after buying an additional 201 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Qorvo in the fourth quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new stake in Qorvo during the fourth quarter worth $37,000. Versant Capital Management Inc raised its position in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 286 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Qorvo by 67.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 250 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on QRVO. Stifel Nicolaus reduced their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Benchmark reissued a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Mizuho increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded Qorvo from a "hold" rating to a "buy" 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $95.84.

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Qorvo Stock Down 0.8 %

Shares of NASDAQ QRVO traded down $0.56 during midday trading on Friday, hitting $71.80. 11,976,241 shares of the company's stock were exchanged, compared to its average volume of 1,910,494. The firm's fifty day simple moving average is $77.14 and its 200-day simple moving average is $81.62. The company has a market cap of $6.71 billion, a PE ratio of 256.43, a P/E/G 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. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

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.