DnB Asset Management AS Grows Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

DnB Asset Management AS increased its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 52,436 shares of the semiconductor company’s stock after acquiring an additional 3,034 shares during the period. DnB Asset Management AS owned approximately 0.06% of Qorvo worth $3,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mediolanum International Funds Ltd purchased a new stake 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. Virtu Financial LLC acquired a new position in shares of Qorvo in the 3rd quarter worth approximately $1,211,000. Paloma Partners Management Co purchased a new position in shares of Qorvo during the 3rd quarter worth approximately $5,165,000. Finally, F&V Capital Management LLC increased its holdings in Qorvo by 3.7% in the 4th quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company’s stock valued at $6,541,000 after purchasing an additional 3,335 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Up 1.3 %

Shares of NASDAQ:QRVO opened at $72.41 on Tuesday. The firm has a 50 day simple moving average of $76.74 and a 200-day simple moving average of $80.06. Qorvo, Inc. has a twelve month low of $64.54 and a twelve 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 company has a market capitalization of $6.76 billion, a PE ratio of 258.61, a P/E/G ratio of 15.57 and a beta of 1.48.

Analysts Set New Price Targets

QRVO has been the subject of several research analyst reports. Citigroup lowered their price target on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research report on Wednesday, January 29th. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Barclays lowered their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.