Edgestream Partners L.P. Purchases Shares of 9,131 Qorvo, Inc. (NASDAQ:QRVO)

Edgestream Partners L.P. purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,131 shares of the semiconductor company’s stock, valued at approximately $639,000.

Several other institutional investors and hedge funds have also recently modified their holdings of QRVO. Larson Financial Group LLC raised its holdings 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 valued at $33,000 after buying an additional 201 shares in the last quarter. Farther Finance Advisors LLC raised its holdings 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 valued at $43,000 after buying an additional 104 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Qorvo during the 4th quarter valued at about $37,000. Versant Capital Management Inc raised its holdings 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 valued at $42,000 after buying an additional 286 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings 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 valued at $43,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 2.4 %

NASDAQ QRVO opened at $69.32 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The firm has a market capitalization of $6.47 billion, a PE ratio of 247.57, a P/E/G ratio of 15.57 and a beta of 1.48. The stock’s 50 day moving average is $77.19 and its 200 day moving average is $83.75.

Wall Street Analysts Forecast Growth

QRVO has been the topic of a number of research reports. Mizuho raised their price objective on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Loop Capital raised their price target on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Citigroup reduced their price target on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group reduced their price target on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Three investment 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, the company currently has an average rating of “Hold” and a consensus price target of $95.84.

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.