Vulcan Value Partners LLC Boosts Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Vulcan Value Partners LLC lifted its position in Qorvo, Inc. (NASDAQ:QRVO) by 53.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,581,296 shares of the semiconductor company’s stock after purchasing an additional 902,353 shares during the period. Qorvo comprises about 3.0% of Vulcan Value Partners LLC’s portfolio, making the stock its 13th biggest holding. Vulcan Value Partners LLC’s holdings in Qorvo were worth $180,487,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Qorvo in the fourth quarter worth about $71,825,000. Amundi grew its position in shares of Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after acquiring an additional 981,519 shares during the period. Wealthfront Advisers LLC increased its stake in shares of Qorvo by 8,535.6% in the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock valued at $65,153,000 after purchasing an additional 920,901 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock worth $57,125,000 after purchasing an additional 645,829 shares during the period. Finally, KBC Group NV boosted its position in Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after purchasing an additional 637,087 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Trading Up 0.4 %

Shares of QRVO stock opened at $63.78 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 twelve month low of $49.46 and a twelve month high of $130.99. The company’s 50-day moving average price is $67.31 and its 200-day moving average price is $74.34. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 227.79, a PEG ratio of 15.57 and a beta of 1.43.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QRVO. Stifel Nicolaus cut their price objective on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. The Goldman Sachs Group reduced their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Mizuho boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $94.79.

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.