SBI Securities Co. Ltd. Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

SBI Securities Co. Ltd. purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 530 shares of the semiconductor company’s stock, valued at approximately $37,000.

Several other large investors have also recently made changes to their positions in QRVO. Larson Financial Group LLC raised its stake in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 201 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 286 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 250 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of Qorvo by 2,621.4% in the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 734 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

QRVO opened at $71.06 on Wednesday. The stock has a 50-day moving average price of $77.19 and a 200-day moving average price of $83.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The firm has a market cap of $6.64 billion, a PE ratio of 253.79, a P/E/G ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99.

Analysts Set New Price Targets

QRVO has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Barclays cut their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Citigroup cut their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Finally, Mizuho lifted their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.84.

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.