Royal London Asset Management Ltd. Purchases 4,497 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Royal London Asset Management Ltd. grew its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,481 shares of the semiconductor company’s stock after acquiring an additional 4,497 shares during the period. Royal London Asset Management Ltd.’s holdings in Qorvo were worth $3,041,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in Qorvo in the 3rd quarter valued at about $234,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Qorvo during the third quarter valued at about $244,000. PNC Financial Services Group Inc. grew its holdings in shares of Qorvo by 3.4% during the third quarter. PNC Financial Services Group Inc. now owns 19,532 shares of the semiconductor company’s stock valued at $2,018,000 after buying an additional 639 shares during the last quarter. Cerity Partners LLC increased its position in shares of Qorvo by 20.7% during the third quarter. Cerity Partners LLC now owns 8,020 shares of the semiconductor company’s stock worth $828,000 after acquiring an additional 1,373 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $72.91 on Tuesday. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 260.39, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The business has a 50-day simple moving average of $77.16 and a two-hundred day simple moving average of $81.18. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QRVO. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Citigroup dropped their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.