Yousif Capital Management LLC Buys 24,620 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Yousif Capital Management LLC boosted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 181.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,158 shares of the semiconductor company's stock after purchasing an additional 24,620 shares during the period. Yousif Capital Management LLC's holdings in Qorvo were worth $2,668,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised 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 purchasing an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Qorvo during the third quarter valued at about $41,000. Versant Capital Management Inc lifted its position in shares of 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 acquiring an additional 286 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 104 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Qorvo by 2,621.4% during the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock worth $53,000 after purchasing an additional 734 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Qorvo Trading Up 0.6 %

QRVO traded up $0.48 on Thursday, reaching $77.49. 1,472,840 shares of the company traded hands, compared to its average volume of 3,251,429. The company has a market cap of $7.24 billion, a P/E ratio of 276.75, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The firm has a fifty day simple moving average of $75.74 and a two-hundred day simple moving average of $88.70.

Wall Street Analysts Forecast Growth

QRVO has been the topic of a number of research analyst reports. Loop Capital boosted their price target on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $85.00 to $110.00 in a report on Monday, January 27th. Barclays dropped their price objective on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Finally, TD Cowen decreased their target price on Qorvo from $125.00 to $85.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Three 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 data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $95.84.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction 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. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

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.