Qorvo, Inc. (NASDAQ:QRVO) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,651 shares of the semiconductor company's stock after acquiring an additional 7,536 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Qorvo were worth $2,633,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Rakuten Securities Inc. acquired a new position in Qorvo during the fourth quarter worth $28,000. Huntington National Bank raised its holdings in shares of Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after buying an additional 145 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Qorvo during the 4th quarter worth $37,000. Versant Capital Management Inc raised its stake in shares of Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 286 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Qorvo by 67.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on QRVO shares. Needham & Company LLC dropped their target price on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday. 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. Citigroup reduced their price objective on Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research note on Wednesday, January 29th. Barclays raised their price target on Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Qorvo currently has an average rating of "Hold" and a consensus price target of $91.21.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded down $0.88 on Thursday, hitting $70.79. 327,095 shares of the company were exchanged, compared to its average volume of 2,169,852. The firm has a market capitalization of $6.61 billion, a P/E ratio of 252.57, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The stock's 50 day moving average price is $66.63 and its 200 day moving average price is $73.59. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The company had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. During the same quarter last year, the firm posted $1.39 earnings per share. Qorvo's revenue was down 7.6% compared to the same quarter last year. Sell-side analysts predict that Qorvo, Inc. will post 4.09 EPS for the current year.

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.