Proficio Capital Partners LLC Purchases Shares of 11,608 Qorvo, Inc. (NASDAQ:QRVO)

Proficio Capital Partners 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 firm purchased 11,608 shares of the semiconductor company’s stock, valued at approximately $812,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo during the 4th quarter worth $1,177,000. Janney Montgomery Scott LLC lifted its position in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after purchasing an additional 10,405 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Qorvo during the 3rd quarter worth $2,507,000. Virtu Financial LLC purchased a new stake in shares of Qorvo during the 3rd quarter worth $1,211,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Qorvo during the 3rd quarter worth $5,165,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 0.8 %

Shares of QRVO opened at $71.80 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. The firm’s 50-day moving average is $77.14 and its two-hundred day moving average is $81.62. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The firm has a market capitalization of $6.71 billion, a P/E ratio of 256.43, a PEG ratio of 15.57 and a beta of 1.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Stifel Nicolaus reduced their price target 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. Citigroup reduced their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research report on Wednesday, January 29th. Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.84.

About Qorvo

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.