EntryPoint Capital LLC Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

EntryPoint Capital LLC purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,088 shares of the semiconductor company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Alexander Randolph Advisory Inc. grew its position in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after acquiring an additional 140 shares during the period. Martingale Asset Management L P grew its holdings in shares of Qorvo by 1.0% during the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after purchasing an additional 181 shares during the period. Truvestments Capital LLC raised its holdings in Qorvo by 7.2% in the 4th 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 period. Larson Financial Group LLC lifted its position 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. boosted its stake in Qorvo by 0.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 27,841 shares of the semiconductor company’s stock worth $2,876,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Mizuho lifted their price objective on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group dropped their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.84.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $73.69 on Friday. The stock’s 50-day simple moving average is $77.24 and its 200-day simple moving average is $80.88. The firm has a market capitalization of $6.88 billion, a PE ratio of 263.18, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. 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.

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.