Boston Partners Increases Position in Qorvo, Inc. (NASDAQ:QRVO)

Boston Partners increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,709 shares of the semiconductor company’s stock after buying an additional 16,735 shares during the period. Boston Partners’ holdings in Qorvo were worth $7,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alexander Randolph Advisory Inc. boosted 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 acquiring an additional 140 shares in the last quarter. Martingale Asset Management L P grew its holdings in Qorvo by 1.0% in the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock valued at $1,969,000 after purchasing an additional 181 shares during the last quarter. Truvestments Capital LLC increased its position in shares of Qorvo by 7.2% in the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock valued at $194,000 after buying an additional 185 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 buying an additional 201 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Qorvo by 0.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock worth $2,876,000 after buying an additional 215 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on QRVO. The Goldman Sachs Group dropped their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Barclays cut their price objective on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $110.00 in a report on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. Finally, Stifel Nicolaus decreased 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. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Qorvo currently has an average rating of “Hold” and a consensus target price of $95.84.

Qorvo Stock Down 0.8 %

Shares of NASDAQ QRVO opened at $71.80 on Friday. The stock has a market capitalization of $6.71 billion, a PE ratio of 256.43, a P/E/G ratio of 15.57 and a beta of 1.48. 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 fifty day moving average of $77.14 and a 200-day moving average of $81.80. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99.

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.