Mutual of America Capital Management LLC Purchases 2,638 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Mutual of America Capital Management LLC lifted its position in Qorvo, Inc. (NASDAQ:QRVO) by 22.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,318 shares of the semiconductor company’s stock after buying an additional 2,638 shares during the period. Mutual of America Capital Management LLC’s holdings in Qorvo were worth $1,001,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares in the last quarter. Verdence Capital Advisors LLC grew its position in Qorvo by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 140 shares during the period. Alexander Randolph Advisory Inc. raised its stake in Qorvo by 1.0% during the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock valued at $950,000 after buying an additional 140 shares during the last quarter. Martingale Asset Management L P lifted 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 valued at $1,969,000 after buying an additional 181 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 7.9 %

QRVO opened at $76.80 on Monday. The stock has a fifty day moving average price of $77.09 and a 200-day moving average price of $84.32. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 274.29, a PEG ratio of 15.57 and a beta of 1.48.

Wall Street Analyst Weigh In

A number of brokerages have commented on QRVO. The Goldman Sachs Group reduced their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Benchmark reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus dropped their target price on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.