Symmetry Investments LP Acquires New Position in Qorvo, Inc. (NASDAQ:QRVO)

Symmetry Investments LP acquired a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,836 shares of the semiconductor company's stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of QRVO. Alexander Randolph Advisory Inc. raised its holdings in shares of Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after acquiring an additional 140 shares during the period. Huntington National Bank raised its stake in Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the period. Truvestments Capital LLC lifted its holdings in shares of Qorvo by 7.2% in the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock valued at $194,000 after purchasing an additional 185 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Qorvo by 67.4% in the fourth 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 period. Finally, Versant Capital Management Inc grew its holdings 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 buying an additional 286 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Wall Street Analyst Weigh In

QRVO has been the subject of a number of research reports. StockNews.com upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Mizuho boosted their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of Qorvo in a research note on Wednesday, January 29th. Finally, Morgan Stanley raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $94.79.

Qorvo Trading Down 1.7 %

QRVO stock traded down $1.11 during trading on Monday, hitting $62.67. The company had a trading volume of 848,841 shares, compared to its average volume of 2,143,446. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 223.58, a PEG ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $67.31 and a 200-day moving average price of $73.95.

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.