Murphy & Mullick Capital Management Corp Makes New $154,000 Investment in Qorvo, Inc. (NASDAQ:QRVO)

Murphy & Mullick Capital Management Corp bought a new position in Qorvo, Inc. (NASDAQ:QRVO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,208 shares of the semiconductor company’s stock, valued at approximately $154,000.

Several other large investors have also modified their holdings of the stock. Alexander Randolph Advisory Inc. boosted its position in shares of Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after buying an additional 140 shares during the period. Martingale Asset Management L P raised its stake in Qorvo by 1.0% during the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock valued at $1,969,000 after acquiring an additional 181 shares in the last quarter. Truvestments Capital LLC boosted its position in Qorvo by 7.2% during the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock worth $194,000 after acquiring an additional 185 shares during the period. Larson Financial Group LLC grew its stake in shares of Qorvo by 163.4% in the third 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. increased its holdings in shares of Qorvo by 0.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock valued at $2,876,000 after purchasing an additional 215 shares during the period. Institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on QRVO shares. Barclays reduced their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. StockNews.com upgraded shares of 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 increased their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Finally, Citigroup decreased their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research note on Wednesday, January 29th. Three equities research 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, the company has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $75.00 on Thursday. The company’s fifty day moving average is $77.23 and its two-hundred day moving average is $80.93. The company has a market cap of $7.00 billion, a P/E ratio of 267.86, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 12-month low of $64.54 and a 12-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.

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.