Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 27.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,067,065 shares of the semiconductor company’s stock after purchasing an additional 231,729 shares during the quarter. Thrivent Financial for Lutherans owned about 1.14% of Qorvo worth $74,620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mediolanum International Funds Ltd acquired a new position in Qorvo in the 4th quarter valued at about $1,177,000. Janney Montgomery Scott LLC raised its stake in shares of 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 acquiring an additional 10,405 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Qorvo in the 3rd quarter valued at approximately $2,507,000. Quest Partners LLC raised its stake in shares of Qorvo by 504.6% in the 3rd quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock valued at $1,198,000 after acquiring an additional 9,678 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Qorvo in the 3rd quarter valued at approximately $1,211,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Down 1.4 %

Shares of Qorvo stock opened at $72.02 on Wednesday. The company has a fifty day simple moving average of $77.17 and a 200-day simple moving average of $82.25. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 257.21, a PEG ratio of 15.57 and a beta of 1.48.

Analysts Set New Price Targets

A number of research firms have recently issued reports on QRVO. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Barclays reduced their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group cut their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Qorvo in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average 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.