LSV Asset Management Has $20.69 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

LSV Asset Management boosted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295,860 shares of the semiconductor company’s stock after buying an additional 37,560 shares during the quarter. LSV Asset Management owned approximately 0.32% of Qorvo worth $20,689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rakuten Securities Inc. bought a new position in shares of Qorvo in the fourth quarter worth about $28,000. Huntington National Bank increased its position in Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Qorvo in the 4th quarter valued at approximately $37,000. Versant Capital Management Inc boosted its position in Qorvo by 89.7% in 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. Finally, Venturi Wealth Management LLC grew its stake in shares of Qorvo by 67.4% during 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 last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $56.27 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99. The company has a fifty day moving average of $70.99 and a 200-day moving average of $77.11. The firm has a market capitalization of $5.26 billion, a P/E ratio of 200.96, a P/E/G ratio of 15.57 and a beta of 1.43.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Loop Capital increased their target price on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Barclays dropped their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Stifel Nicolaus cut their target price on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.84.

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.