Rakuten Securities Inc. Makes New Investment in Qorvo, Inc. (NASDAQ:QRVO)

Rakuten Securities Inc. purchased a new position in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 407 shares of the semiconductor company’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi increased its position in shares of Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after acquiring an additional 981,519 shares during the period. Wealthfront Advisers LLC grew its stake in Qorvo by 8,535.6% during the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock valued at $65,153,000 after purchasing an additional 920,901 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Qorvo by 377.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock valued at $57,125,000 after purchasing an additional 645,829 shares during the period. KBC Group NV raised its stake in shares of Qorvo by 144.8% in the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after purchasing an additional 637,087 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Qorvo by 140.2% during the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after purchasing an additional 487,621 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

QRVO has been the topic of several research reports. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $110.00 in a report on Monday, January 27th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th. Loop Capital upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.84.

Qorvo Stock Performance

NASDAQ:QRVO opened at $69.12 on Friday. The company has a fifty day moving average of $77.18 and a two-hundred day moving average of $83.65. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The stock has a market capitalization of $6.46 billion, a PE ratio of 246.86, 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 quick ratio of 1.78 and a current ratio of 2.60.

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.