Kennondale Capital Management LLC Acquires Shares of 11,979 Qorvo, Inc. (NASDAQ:QRVO)

Kennondale Capital Management LLC acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,979 shares of the semiconductor company’s stock, valued at approximately $838,000.

Several other large investors have also bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in shares of Qorvo by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 109,100 shares of the semiconductor company’s stock worth $11,270,000 after purchasing an additional 1,426 shares during the period. Atria Investments Inc raised its stake in shares of Qorvo by 12.8% during the 3rd quarter. Atria Investments Inc now owns 2,584 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 293 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Qorvo during the 3rd quarter worth $234,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Qorvo by 4.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 219,484 shares of the semiconductor company’s stock worth $22,673,000 after purchasing an additional 8,371 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Qorvo by 6.9% during the 3rd quarter. CIBC Asset Management Inc now owns 13,923 shares of the semiconductor company’s stock worth $1,438,000 after purchasing an additional 897 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Up 2.3 %

QRVO stock opened at $73.02 on Tuesday. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6.82 billion, a PE ratio of 260.79, a PEG ratio of 15.57 and a beta of 1.48. The stock has a 50-day simple moving average of $77.20 and a two-hundred day simple moving average of $82.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Barclays lowered their target price 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. Benchmark restated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Stifel Nicolaus lowered their price objective on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $95.84.

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.