New Age Alpha Advisors LLC Invests $2.20 Million in Qorvo, Inc. (NASDAQ:QRVO)

New Age Alpha Advisors LLC purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 31,508 shares of the semiconductor company’s stock, valued at approximately $2,203,000.

Several other hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC boosted 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 purchasing an additional 201 shares during the period. Rakuten Securities Inc. acquired a new stake in Qorvo in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Qorvo during the fourth quarter worth about $37,000. Versant Capital Management Inc increased its position in shares of 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 acquiring an additional 286 shares during the period. Finally, Venturi Wealth Management LLC raised its position in 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 buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on QRVO. Mizuho increased their price target on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Barclays decreased their price objective 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. Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. The Goldman Sachs Group decreased their price target on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Price Performance

QRVO opened at $71.50 on Friday. The firm has a market cap of $6.68 billion, a P/E ratio of 255.36, a PEG ratio of 15.57 and a beta of 1.48. The firm has a 50-day moving average of $76.98 and a 200 day moving average of $80.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99.

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.