Qorvo (NASDAQ:QRVO) Trading 3.8% Higher – Should You Buy?

Qorvo, Inc. (NASDAQ:QRVO) rose 3.8% on Tuesday . The stock traded as high as $75.50 and last traded at $75.69. Approximately 1,101,727 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 1,910,040 shares. The stock had previously closed at $72.91.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on QRVO shares. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Citigroup cut their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th. Loop Capital lifted their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Barclays dropped their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Mizuho upped their target price on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.84.

Qorvo Stock Down 1.7 %

The business has a fifty day simple moving average of $77.23 and a two-hundred day simple moving average of $80.93. 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 company has a market cap of $6.88 billion, a PE ratio of 263.18, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QRVO. Ameriprise Financial Inc. lifted its position in Qorvo by 102.0% during the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock worth $251,577,000 after buying an additional 1,816,811 shares in the last quarter. FIL Ltd boosted its position in shares of Qorvo by 5.3% during the 4th quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company’s stock valued at $232,464,000 after acquiring an additional 166,461 shares during the last quarter. Vulcan Value Partners LLC grew its holdings in shares of Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock valued at $180,487,000 after purchasing an additional 902,353 shares during the period. Amundi increased its position in Qorvo by 84.4% during the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock worth $156,673,000 after purchasing an additional 981,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Qorvo by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company’s stock worth $99,280,000 after purchasing an additional 264,167 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Company 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.