Murphy & Mullick Capital Management Corp Acquires New Position in Qorvo, Inc. (NASDAQ:QRVO)

Murphy & Mullick Capital Management Corp bought a new position in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, HoldingsChannel reports. The fund bought 2,208 shares of the semiconductor company’s stock, valued at approximately $154,000.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in Qorvo by 68.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 75,298 shares of the semiconductor company’s stock valued at $5,266,000 after purchasing an additional 30,486 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Qorvo during the 4th quarter worth about $286,000. Heron Bay Capital Management acquired a new stake in shares of Qorvo during the 4th quarter valued at about $971,000. KLP Kapitalforvaltning AS bought a new stake in shares of Qorvo in the 4th quarter valued at approximately $2,081,000. Finally, Hillsdale Investment Management Inc. increased its holdings in Qorvo by 5.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 7,360 shares of the semiconductor company’s stock worth $515,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QRVO. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Citigroup decreased their price objective on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Stifel Nicolaus reduced their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group cut their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.84.

Qorvo Stock Performance

NASDAQ QRVO opened at $75.00 on Thursday. The company’s fifty day moving average is $77.23 and its two-hundred day moving average is $80.93. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 267.86, 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 current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a 52-week low of $64.54 and a 52-week high of $130.99.

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.