JPMorgan Chase & Co. Has $45.43 Million Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

JPMorgan Chase & Co. raised its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 649,631 shares of the semiconductor company's stock after buying an additional 91,120 shares during the period. JPMorgan Chase & Co. owned approximately 0.70% of Qorvo worth $45,429,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of QRVO. Rakuten Securities Inc. acquired a new stake in shares of Qorvo during the fourth quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Qorvo in the 4th quarter valued at $37,000. Versant Capital Management Inc increased its stake in Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 286 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after buying an additional 250 shares during the period. Finally, CENTRAL TRUST Co lifted its stake in Qorvo by 2,621.4% during the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock valued at $53,000 after buying an additional 734 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Up 2.1 %

Shares of Qorvo stock traded up $1.15 during midday trading on Friday, reaching $56.27. 2,075,805 shares of the company's stock traded hands, compared to its average volume of 2,109,697. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $130.99. The company's 50 day simple moving average is $70.99 and its 200 day simple moving average is $77.11. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 200.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43.

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Analyst Upgrades and Downgrades

QRVO has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Benchmark reissued a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Barclays decreased their target price on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Finally, StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Qorvo presently has a consensus rating of "Hold" and a consensus target price of $95.84.

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.