Brandes Investment Partners LP Purchases 35,318 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Brandes Investment Partners LP lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,618 shares of the semiconductor company’s stock after buying an additional 35,318 shares during the quarter. Brandes Investment Partners LP owned approximately 0.33% of Qorvo worth $21,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in shares of Qorvo by 10.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,635 shares of the semiconductor company’s stock worth $604,000 after purchasing an additional 827 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Qorvo during the 4th quarter worth $174,000. Achmea Investment Management B.V. lifted its stake in shares of Qorvo by 108.1% during the 4th quarter. Achmea Investment Management B.V. now owns 22,093 shares of the semiconductor company’s stock worth $1,545,000 after purchasing an additional 11,477 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Qorvo during the 4th quarter worth $14,854,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Qorvo during the 4th quarter worth $28,000. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

QRVO has been the subject of a number of analyst reports. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Mizuho upped their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Benchmark reiterated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus decreased their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo Stock Up 3.3 %

Qorvo stock opened at $71.39 on Friday. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 254.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. The business’s 50-day moving average price is $77.17 and its 200 day moving average price is $83.55. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

About Qorvo

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.