EntryPoint Capital LLC Acquires Shares of 4,088 Qorvo, Inc. (NASDAQ:QRVO)

EntryPoint Capital LLC bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,088 shares of the semiconductor company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi grew its stake in Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock worth $156,673,000 after buying an additional 981,519 shares during the last quarter. KBC Group NV boosted its holdings 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 valued at $75,328,000 after acquiring an additional 637,087 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Qorvo by 27.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,067,065 shares of the semiconductor company’s stock worth $74,620,000 after acquiring an additional 231,729 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Qorvo by 8,535.6% in the 4th quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock valued at $65,153,000 after acquiring an additional 920,901 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Qorvo by 377.6% in the 4th 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 last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Mizuho raised 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. Barclays decreased their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Loop Capital increased their price objective on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Trading Down 1.7 %

Shares of Qorvo stock opened at $73.69 on Friday. The company has a 50-day moving average of $77.24 and a two-hundred day moving average of $80.88. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. 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 stock 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.

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.