Heron Bay Capital Management Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Heron Bay Capital Management bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,890 shares of the semiconductor company’s stock, valued at approximately $971,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi lifted its position in shares of Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after acquiring an additional 981,519 shares in the last quarter. KBC Group NV lifted its position in shares of Qorvo by 144.8% in the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock valued at $75,328,000 after acquiring an additional 637,087 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Qorvo by 27.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,067,065 shares of the semiconductor company’s stock valued at $74,620,000 after acquiring an additional 231,729 shares in the last quarter. Wealthfront Advisers LLC lifted its position in Qorvo by 8,535.6% during the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock worth $65,153,000 after buying an additional 920,901 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Qorvo by 377.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock worth $57,125,000 after buying an additional 645,829 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on QRVO shares. Stifel Nicolaus reduced their price objective on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Loop Capital lifted their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Mizuho lifted 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. Barclays reduced their price objective 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo Trading Down 0.8 %

QRVO opened at $71.80 on Friday. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 256.43, a PEG ratio of 15.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The business has a fifty day moving average price of $77.14 and a 200 day moving average price of $81.62.

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.