Qorvo, Inc. (NASDAQ:QRVO) Stock Position Raised by Truvestments Capital LLC

Truvestments Capital LLC raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,768 shares of the semiconductor company’s stock after purchasing an additional 185 shares during the period. Truvestments Capital LLC’s holdings in Qorvo were worth $194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares in the last quarter. Alexander Randolph Advisory Inc. raised its stake in shares of Qorvo by 1.0% during the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after purchasing an additional 140 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of Qorvo by 1.0% during the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after purchasing an additional 181 shares in the last quarter. Larson Financial Group LLC raised its stake 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 worth $33,000 after purchasing an additional 201 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Qorvo by 0.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock worth $2,876,000 after purchasing an additional 215 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on QRVO shares. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Barclays cut their price objective on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $69.32 on Thursday. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The firm has a market capitalization of $6.47 billion, a PE ratio of 247.57, a PEG ratio of 15.57 and a beta of 1.48. The business’s 50 day moving average is $77.19 and its 200-day moving average is $83.75. 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 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.