Short Interest in Qorvo, Inc. (NASDAQ:QRVO) Decreases By 15.3%

Qorvo, Inc. (NASDAQ:QRVO) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 7,780,000 shares, a decline of 15.3% from the January 31st total of 9,190,000 shares. Based on an average trading volume of 3,110,000 shares, the short-interest ratio is presently 2.5 days. Approximately 8.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QRVO. Rakuten Securities Inc. purchased a new stake in shares of Qorvo in the 4th quarter valued at approximately $28,000. Huntington National Bank lifted its holdings in shares of Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of 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 buying an additional 201 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Qorvo during the fourth quarter valued at $37,000. Finally, Versant Capital Management Inc raised its position in Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Down 0.2 %

Shares of NASDAQ:QRVO traded down $0.17 during midday trading on Thursday, reaching $70.97. The company had a trading volume of 582,181 shares, compared to its average volume of 2,917,696. The company has a fifty day simple moving average of $76.99 and a two-hundred day simple moving average of $85.14. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 253.16, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. Qorvo has a 1-year low of $64.54 and a 1-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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Finally, Mizuho boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Three investment 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. According to data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average price target 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.