Qorvo (NASDAQ:QRVO) Shares Up 7.6% - What's Next?

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report)'s share price rose 7.6% during trading on Friday . The stock traded as high as $76.62 and last traded at $76.59. Approximately 1,939,275 shares were traded during trading, a decline of 34% from the average daily volume of 2,931,389 shares. The stock had previously closed at $71.20.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Mizuho lifted their target price on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Stifel Nicolaus lowered their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Morgan Stanley raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Benchmark reissued a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Finally, 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. 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 stock currently has an average rating of "Hold" and a consensus target price of $95.84.

Qorvo Stock Performance

The company has a 50-day moving average price of $77.09 and a two-hundred day moving average price of $84.32. 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 has a market capitalization of $6.57 billion, a P/E ratio of 250.74, a PEG ratio of 15.57 and a beta of 1.48.

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Institutional Trading of Qorvo

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 201 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Qorvo in the fourth quarter valued at about $28,000. Farther Finance Advisors LLC grew its stake in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 104 shares during the last quarter. Huntington National Bank increased its holdings 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. Finally, SBI Securities Co. Ltd. purchased a new stake in Qorvo in the 4th quarter worth approximately $37,000. 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.