Qorvo (NASDAQ:QRVO) Reaches New 12-Month Low – Time to Sell?

Qorvo, Inc. (NASDAQ:QRVO)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $49.46 and last traded at $50.81, with a volume of 6468295 shares traded. The stock had previously closed at $56.39.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup reduced their target price 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. Stifel Nicolaus reduced their price objective on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Mizuho upped their price target on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group dropped their price objective on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Trading Down 9.9 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The business’s fifty day simple moving average is $72.88 and its 200 day simple moving average is $78.15. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 181.46, a P/E/G ratio of 15.57 and a beta of 1.43.

Institutional Investors Weigh In On Qorvo

A number of institutional investors have recently modified their holdings of QRVO. Ameriprise Financial Inc. grew its holdings in shares of Qorvo by 102.0% during the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock valued at $251,577,000 after purchasing an additional 1,816,811 shares during the last quarter. Norges Bank acquired a new position in Qorvo during the 4th quarter valued at approximately $71,825,000. Amundi increased its position in Qorvo by 84.4% in the fourth 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 period. Wealthfront Advisers LLC lifted its stake in Qorvo by 8,535.6% in the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock valued at $65,153,000 after buying an additional 920,901 shares during the last quarter. Finally, Vulcan Value Partners LLC boosted its holdings in shares of Qorvo by 53.7% during 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 acquiring an additional 902,353 shares during the period. Institutional investors own 88.57% of the company’s stock.

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.