Connor Clark & Lunn Investment Management Ltd. Invests $14.85 Million in Qorvo, Inc. (NASDAQ:QRVO)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 212,410 shares of the semiconductor company’s stock, valued at approximately $14,854,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.23% of Qorvo at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd bought a new position in shares of Qorvo in the 4th quarter valued at about $1,177,000. Janney Montgomery Scott LLC lifted its stake in Qorvo by 245.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock valued at $1,024,000 after purchasing an additional 10,405 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Qorvo during the third quarter worth about $2,507,000. Quest Partners LLC raised its stake in Qorvo by 504.6% in the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock valued at $1,198,000 after buying an additional 9,678 shares during the period. Finally, Virtu Financial LLC bought a new stake in Qorvo in the third quarter valued at approximately $1,211,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Down 0.3 %

QRVO opened at $69.12 on Friday. 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 stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 246.86, a P/E/G ratio of 15.57 and a beta of 1.48. The company has a 50-day simple moving average of $77.18 and a 200 day simple moving average of $83.65.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on QRVO shares. The Goldman Sachs Group decreased their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Citigroup decreased their price objective 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. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Finally, Loop Capital raised their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.