Qorvo (NASDAQ:QRVO) Hits New 1-Year Low - Time to Sell?

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report)'s stock price hit a new 52-week low on Thursday . The company traded as low as $61.53 and last traded at $61.75, with a volume of 1335498 shares. The stock had previously closed at $72.64.

Analysts Set New Price Targets

QRVO has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price target on Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Needham & Company LLC restated a "buy" rating and set a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. Barclays decreased their price objective on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and raised their price target for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Finally, Citigroup dropped their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $95.84.

Qorvo Trading Down 9.9 %

The company has a market capitalization of $4.75 billion, a PE ratio of 181.46, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average price is $72.88 and its two-hundred day moving average price is $78.15.

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Institutional Investors Weigh In On Qorvo

Institutional investors and hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. bought a new position in shares of Qorvo during the fourth quarter valued at approximately $28,000. Huntington National Bank increased its position in Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the period. SBI Securities Co. Ltd. bought a new position in Qorvo in the 4th quarter worth $37,000. Versant Capital Management Inc lifted its position in shares of 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 during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Qorvo by 67.4% during 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 in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

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.