Royal London Asset Management Ltd. Boosts Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Royal London Asset Management Ltd. raised its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,481 shares of the semiconductor company's stock after acquiring an additional 4,497 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Qorvo were worth $3,041,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Alexander Randolph Advisory Inc. increased its position in shares of Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock worth $950,000 after acquiring an additional 140 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Qorvo by 1.0% during the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company's stock worth $1,969,000 after buying an additional 181 shares during the last quarter. Truvestments Capital LLC boosted its holdings in Qorvo by 7.2% in the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock worth $194,000 after purchasing an additional 185 shares during the period. Larson Financial Group LLC lifted its holdings in Qorvo by 163.4% in the third 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. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Qorvo by 0.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company's stock worth $2,876,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

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Qorvo Trading Down 3.0 %

Shares of NASDAQ:QRVO traded down $2.19 during mid-day trading on Friday, reaching $71.50. 2,241,764 shares of the company's stock were exchanged, compared to its average volume of 2,004,027. The business's fifty day moving average price is $76.98 and its 200-day moving average price is $80.65. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The firm has a market capitalization of $6.68 billion, a price-to-earnings 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.

Wall Street Analysts Forecast Growth

QRVO has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research 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 report on Friday, January 24th. Barclays cut their price objective 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. StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Finally, Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $95.84.

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.