Qorvo, Inc. (NASDAQ:QRVO) Stock Position Boosted by Quantbot Technologies LP

Quantbot Technologies LP grew its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 377.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,646 shares of the semiconductor company's stock after buying an additional 153,875 shares during the quarter. Qorvo accounts for 0.5% of Quantbot Technologies LP's portfolio, making the stock its 18th largest position. Quantbot Technologies LP owned about 0.21% of Qorvo worth $13,612,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mediolanum International Funds Ltd acquired a new position in shares of Qorvo during the fourth quarter worth $1,177,000. Janney Montgomery Scott LLC lifted its position in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock worth $1,024,000 after purchasing an additional 10,405 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Qorvo during the third quarter worth $2,507,000. Quest Partners LLC lifted its position in shares of Qorvo by 504.6% during the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company's stock worth $1,198,000 after purchasing an additional 9,678 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Qorvo during the third quarter worth $1,211,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on QRVO shares. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a report on Wednesday, January 29th. Stifel Nicolaus cut their price target on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Loop Capital upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and upped their price target for the company from $85.00 to $110.00 in a report on Monday, January 27th. Finally, Citigroup lowered their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to 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

Shares of Qorvo stock traded down $1.00 during trading on Tuesday, hitting $72.02. 1,452,156 shares of the stock were exchanged, compared to its average volume of 1,859,108. The stock's fifty day moving average is $77.20 and its 200 day moving average is $82.56. The stock has a market cap of $6.73 billion, a PE ratio of 257.21, 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, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99.

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.