SRS Capital Advisors Inc. Purchases 1,668 Shares of Qorvo, Inc. (NASDAQ:QRVO)

SRS Capital Advisors Inc. boosted its position in Qorvo, Inc. (NASDAQ:QRVO) by 233.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,383 shares of the semiconductor company’s stock after purchasing an additional 1,668 shares during the period. SRS Capital Advisors Inc.’s holdings in Qorvo were worth $167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Qorvo by 12.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,552 shares of the semiconductor company’s stock valued at $470,000 after acquiring an additional 501 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Qorvo by 7.5% in the third quarter. Chicago Partners Investment Group LLC now owns 2,789 shares of the semiconductor company’s stock valued at $280,000 after purchasing an additional 194 shares during the last quarter. QRG Capital Management Inc. increased its position in Qorvo by 8.3% in the third quarter. QRG Capital Management Inc. now owns 9,022 shares of the semiconductor company’s stock worth $932,000 after buying an additional 695 shares during the last quarter. Finally, Olympiad Research LP raised its stake in shares of Qorvo by 109.1% in the third quarter. Olympiad Research LP now owns 4,962 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 2,589 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 2.7 %

Qorvo stock opened at $71.14 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 254.07, a PEG ratio of 15.57 and a beta of 1.48. The business has a fifty day moving average price of $76.99 and a 200-day moving average price of $85.14.

Wall Street Analyst Weigh In

QRVO has been the subject of several recent research reports. Citigroup reduced their target price on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research note on Wednesday, January 29th. Barclays decreased their price target on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Mizuho increased their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group cut their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.84.

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.