Raymond James Financial Inc. Buys New Shares in Qorvo, Inc. (NASDAQ:QRVO)

Raymond James Financial Inc. acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 18,982 shares of the semiconductor company's stock, valued at approximately $1,327,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Qorvo during the 4th quarter worth about $37,000. Versant Capital Management Inc lifted its holdings in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after buying an additional 286 shares during the period. Venturi Wealth Management LLC boosted its stake in Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 250 shares during the last quarter. CENTRAL TRUST Co boosted its stake in Qorvo by 2,621.4% in the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock valued at $53,000 after acquiring an additional 734 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Qorvo during the 4th quarter worth $70,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Analysts Set New Price Targets

QRVO has been the topic of several recent research reports. Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Citigroup reduced their target price on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a report on Wednesday, January 29th. Loop Capital upped their price target on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Benchmark reissued a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a report on Wednesday, January 29th. Three 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, the stock has a consensus rating of "Hold" and a consensus target price of $95.84.

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Qorvo Stock Down 7.8 %

NASDAQ QRVO traded down $4.74 during trading on Friday, hitting $56.35. The stock had a trading volume of 4,493,458 shares, compared to its average volume of 2,030,360. The company has a market capitalization of $5.26 billion, a PE ratio of 201.25, a P/E/G ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 12 month low of $53.97 and a 12 month high of $130.99. The company's 50-day moving average price is $74.91 and its two-hundred day moving average price is $79.32. 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 Profile

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.