Ossiam Has $11.79 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Ossiam increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,547 shares of the semiconductor company’s stock after purchasing an additional 5,523 shares during the quarter. Ossiam owned approximately 0.18% of Qorvo worth $11,786,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in QRVO. Stifel Financial Corp grew its holdings in shares of Qorvo by 11.8% in the 3rd quarter. Stifel Financial Corp now owns 7,649 shares of the semiconductor company’s stock valued at $790,000 after acquiring an additional 807 shares in the last quarter. MML Investors Services LLC increased its position in shares of Qorvo by 10.9% during the 3rd quarter. MML Investors Services LLC now owns 3,532 shares of the semiconductor company’s stock worth $365,000 after purchasing an additional 347 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Qorvo during the 3rd quarter worth approximately $1,211,000. Wilmington Savings Fund Society FSB bought a new position in shares of Qorvo in the third quarter valued at $200,000. Finally, Tidal Investments LLC increased its holdings in Qorvo by 188.1% during the third quarter. Tidal Investments LLC now owns 37,729 shares of the semiconductor company’s stock worth $3,897,000 after buying an additional 24,635 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of Qorvo stock opened at $57.63 on Friday. The company has a 50 day moving average of $68.91 and a 200-day moving average of $75.73. The company has a market cap of $5.38 billion, a PE ratio of 205.82, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QRVO shares. Barclays lowered their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group decreased their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Three 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. Based on data from MarketBeat.com, Qorvo has an average rating of “Hold” and a consensus target price of $95.84.

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.