Qorvo, Inc. (NASDAQ:QRVO) Holdings Boosted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 579.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,327 shares of the semiconductor company's stock after purchasing an additional 31,833 shares during the period. Maryland State Retirement & Pension System's holdings in Qorvo were worth $2,610,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in shares of Qorvo during the 4th quarter worth about $28,000. 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 valued at $33,000 after buying an additional 201 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Qorvo during the fourth quarter valued at approximately $37,000. Versant Capital Management Inc grew 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 worth $42,000 after buying an additional 286 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of 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. Institutional investors and hedge funds own 88.57% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on QRVO. Morgan Stanley raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Loop Capital upped their target price on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group dropped their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Mizuho upped their price target on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Finally, StockNews.com raised shares of 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 issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Qorvo has a consensus rating of "Hold" and a consensus price target of $95.84.

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Qorvo Stock Performance

Shares of NASDAQ QRVO traded up $2.72 during trading on Tuesday, reaching $75.63. The stock had a trading volume of 2,634,651 shares, compared to its average volume of 1,910,040. The firm's 50 day moving average price is $77.16 and its two-hundred day moving average price is $81.18. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The stock has a market cap of $7.06 billion, a PE ratio of 270.11, a P/E/G ratio of 15.57 and a beta of 1.48. 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 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.