Qorvo, Inc. (NASDAQ:QRVO) Short Interest Up 28.2% in January

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 9,190,000 shares, a growth of 28.2% from the January 15th total of 7,170,000 shares. Approximately 9.9% of the shares of the stock are short sold. Based on an average trading volume of 3,130,000 shares, the days-to-cover ratio is currently 2.9 days.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded down $1.79 on Thursday, hitting $77.10. 1,606,504 shares of the company were exchanged, compared to its average volume of 3,066,673. The company's 50 day moving average price is $76.56 and its two-hundred day moving average price is $87.35. Qorvo has a one year low of $64.54 and a one year high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 275.36, a PEG ratio of 15.74 and a beta of 1.41.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Benchmark restated a "hold" rating on shares of Qorvo in a report on Wednesday, January 29th. Mizuho increased their price objective on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on Qorvo from $115.00 to $95.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. Barclays dropped their target price on Qorvo from $90.00 to $80.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Finally, Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $95.84.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.

Institutional Trading of Qorvo

Institutional investors have recently made changes to their positions in the business. Rakuten Securities Inc. acquired a new stake in shares of Qorvo during the 4th quarter valued at about $28,000. Huntington National Bank boosted its position in shares of 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 acquiring an additional 145 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 201 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Qorvo during the 4th quarter valued at about $37,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Qorvo during the 3rd quarter valued at about $41,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.