Qorvo (NASDAQ:QRVO) Reaches New 1-Year Low - What's Next?

Shares of Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $49.46 and last traded at $50.81, with a volume of 6468295 shares changing hands. The stock had previously closed at $56.39.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QRVO. Mizuho boosted their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Stifel Nicolaus decreased their price target on Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Finally, Barclays decreased their target price on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Three investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.84.

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Qorvo Stock Performance

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 business's 50-day moving average is $70.99 and its 200-day moving average is $76.91. The company has a market capitalization of $5.48 billion, a PE ratio of 209.41, a PEG ratio of 15.57 and a beta of 1.43.

Hedge Funds Weigh In On Qorvo

Several large investors have recently made changes to their positions in the business. Rakuten Securities Inc. bought a new position in Qorvo during the 4th quarter valued at approximately $28,000. Huntington National Bank grew its stake in shares of Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Curat Global LLC bought a new position in shares of Qorvo during the first quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Qorvo in the 4th quarter worth about $37,000. Finally, Versant Capital Management Inc boosted 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. 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.