Wealthfront Advisers LLC Increases Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Wealthfront Advisers LLC lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 8,535.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 931,690 shares of the semiconductor company’s stock after purchasing an additional 920,901 shares during the period. Wealthfront Advisers LLC owned about 1.00% of Qorvo worth $65,153,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of QRVO. 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 acquiring an additional 201 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Qorvo during the 4th quarter worth approximately $37,000. Versant Capital Management Inc raised its stake in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 286 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO stock opened at $74.08 on Tuesday. The company’s fifty day moving average price is $77.09 and its two-hundred day moving average price is $84.32. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The firm has a market capitalization of $6.92 billion, a P/E ratio of 264.57, a P/E/G 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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on QRVO shares. Mizuho upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $110.00 in a report on Monday, January 27th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Citigroup lowered their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Finally, Barclays lowered their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.84.

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.