Qorvo, Inc. (NASDAQ:QRVO) Stake Increased by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,541 shares of the semiconductor company’s stock after purchasing an additional 315 shares during the quarter. Arizona State Retirement System’s holdings in Qorvo were worth $1,926,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in 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 acquiring an additional 201 shares in the last quarter. Farther Finance Advisors LLC grew its position in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Qorvo during the fourth quarter valued at approximately $37,000. Versant Capital Management Inc increased its stake in Qorvo by 89.7% in 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 during the period. Finally, Venturi Wealth Management LLC lifted its position in Qorvo by 67.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after buying an additional 250 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Down 4.1 %

Qorvo stock opened at $71.06 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The firm has a fifty day moving average price of $77.19 and a two-hundred day moving average price of $83.75. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 253.79, a P/E/G ratio of 15.57 and a beta of 1.48.

Analysts Set New Price Targets

QRVO has been the topic of a number of research reports. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Stifel Nicolaus dropped their target price on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Mizuho lifted their price target on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Finally, Loop Capital raised their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Three equities 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo 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.