Qorvo, Inc. (NASDAQ:QRVO) Short Interest Update

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 7,780,000 shares, a drop of 15.3% from the January 31st total of 9,190,000 shares. Based on an average daily volume of 3,110,000 shares, the short-interest ratio is currently 2.5 days. Approximately 8.4% of the company's stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QRVO. Citigroup lowered their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a report on Wednesday, January 29th. Stifel Nicolaus decreased their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Loop Capital raised their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock 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 raised their price objective for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Finally, Morgan Stanley raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $95.84.

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Institutional Trading of Qorvo

Several hedge funds have recently bought and sold shares of QRVO. Ameriprise Financial Inc. lifted its position in Qorvo by 102.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock valued at $251,577,000 after purchasing an additional 1,816,811 shares during the last quarter. Norges Bank bought a new stake in Qorvo in the 4th quarter valued at about $71,825,000. Amundi raised its position in shares of Qorvo by 84.4% during 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 in the last quarter. Wealthfront Advisers LLC raised its position in shares of Qorvo by 8,535.6% during the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock worth $65,153,000 after buying an additional 920,901 shares in the last quarter. Finally, Vulcan Value Partners LLC raised its position in shares of Qorvo by 53.7% during the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock worth $180,487,000 after buying an additional 902,353 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Performance

NASDAQ:QRVO traded up $5.60 during mid-day trading on Friday, hitting $76.80. The stock had a trading volume of 2,995,481 shares, compared to its average volume of 2,958,509. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 274.29, a P/E/G ratio of 15.57 and a beta of 1.48. The company has a 50 day simple moving average of $77.09 and a 200-day simple moving average of $84.52. Qorvo has a 52 week low of $64.54 and a 52 week high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Qorvo Company 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.