Proficio Capital Partners LLC Takes Position in Qorvo, Inc. (NASDAQ:QRVO)

Proficio Capital Partners LLC bought a new position in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,608 shares of the semiconductor company’s stock, valued at approximately $812,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. raised its holdings in shares of Qorvo by 7.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company’s stock worth $157,920,000 after acquiring an additional 101,742 shares during the last quarter. KBC Group NV raised its holdings in shares of Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after acquiring an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after acquiring an additional 487,621 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock worth $57,125,000 after acquiring an additional 645,829 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Qorvo by 19.2% in the 4th quarter. Bank of New York Mellon Corp now owns 778,408 shares of the semiconductor company’s stock worth $54,434,000 after acquiring an additional 125,463 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QRVO. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Mizuho upped their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Loop Capital upped their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a research report on Wednesday, January 29th. Three 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 MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Stock Up 7.9 %

Qorvo stock opened at $76.80 on Friday. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The firm has a 50 day moving average price of $77.09 and a 200-day moving average price of $84.52. The company has a market capitalization of $7.17 billion, a P/E ratio of 274.29, a P/E/G ratio of 15.57 and a beta of 1.48. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

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.