Raymond James Financial Inc. Makes New $1.33 Million Investment in Qorvo, Inc. (NASDAQ:QRVO)

Raymond James Financial Inc. bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,982 shares of the semiconductor company’s stock, valued at approximately $1,327,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its position in Qorvo by 1.2% during the 4th quarter. Arizona State Retirement System now owns 27,541 shares of the semiconductor company’s stock valued at $1,926,000 after acquiring an additional 315 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Qorvo in the fourth quarter valued at approximately $812,000. M&T Bank Corp raised its stake in shares of Qorvo by 19.9% during the 4th quarter. M&T Bank Corp now owns 6,195 shares of the semiconductor company’s stock valued at $433,000 after buying an additional 1,030 shares during the last quarter. Plato Investment Management Ltd lifted its stake in shares of Qorvo by 1,959.4% in the 4th quarter. Plato Investment Management Ltd now owns 5,128 shares of the semiconductor company’s stock valued at $360,000 after purchasing an additional 4,879 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Qorvo in the fourth quarter valued at approximately $37,000. 88.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on QRVO shares. Loop Capital upped their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Benchmark reiterated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Finally, Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three 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, Qorvo currently has an average rating of “Hold” and an average target price of $95.84.

Qorvo Trading Up 0.6 %

NASDAQ QRVO opened at $72.64 on Thursday. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The company has a market cap of $6.78 billion, a P/E ratio of 259.43, a P/E/G ratio of 15.57 and a beta of 1.48. 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 company has a 50-day moving average of $76.15 and a 200-day moving average of $79.76.

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.