Shares of Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) were up 3.8% on Tuesday . The stock traded as high as $75.50 and last traded at $75.69. Approximately 1,101,727 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 1,910,040 shares. The stock had previously closed at $72.91.
Wall Street Analyst Weigh In
A number of brokerages have commented on QRVO. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a report on Wednesday, January 29th. Mizuho upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Barclays cut their price target on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $95.84.
Read Our Latest Analysis on Qorvo
Qorvo Stock Performance
The company has a market cap of $6.68 billion, a PE ratio of 255.36, a PEG 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. The firm's 50 day moving average is $76.98 and its 200-day moving average is $80.48.
Institutional Investors Weigh In On Qorvo
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of Qorvo by 102.0% during the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock worth $251,577,000 after acquiring an additional 1,816,811 shares during the period. FIL Ltd grew its holdings in Qorvo by 5.3% during the fourth quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company's stock valued at $232,464,000 after purchasing an additional 166,461 shares during the period. Vulcan Value Partners LLC raised its stake in Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after purchasing an additional 902,353 shares in the last quarter. Amundi grew its position in shares of Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after buying an additional 981,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Qorvo by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock valued at $99,280,000 after purchasing an additional 264,167 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.
Qorvo Company Profile
(
Get Free Report)
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.
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