13,890 Shares in Qorvo, Inc. (NASDAQ:QRVO) Bought by Heron Bay Capital Management

Heron Bay Capital Management acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 13,890 shares of the semiconductor company’s stock, valued at approximately $971,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Alexander Randolph Advisory Inc. raised its stake in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock valued at $950,000 after buying an additional 140 shares during the last quarter. Martingale Asset Management L P raised its stake in Qorvo by 1.0% in the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock valued at $1,969,000 after buying an additional 181 shares during the last quarter. Truvestments Capital LLC raised its stake in 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 buying an additional 185 shares during the last quarter. Larson Financial Group LLC raised its stake in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Qorvo by 0.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock valued at $2,876,000 after buying an additional 215 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Stock Down 0.8 %

Shares of QRVO opened at $71.80 on Friday. 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 12 month low of $64.54 and a 12 month high of $130.99. The stock’s 50 day moving average is $77.14 and its two-hundred day moving average is $81.62. The firm has a market cap of $6.71 billion, a P/E ratio of 256.43, a PEG ratio of 15.57 and a beta of 1.48.

Analyst Upgrades and Downgrades

A number of research firms have commented on QRVO. Loop Capital increased their price target on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Mizuho raised their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.