Royal London Asset Management Ltd. Increases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Royal London Asset Management Ltd. lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,481 shares of the semiconductor company’s stock after buying an additional 4,497 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Qorvo were worth $3,041,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Mediolanum International Funds Ltd purchased a new position in Qorvo during the 4th quarter worth approximately $1,177,000. Janney Montgomery Scott LLC raised its stake in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock valued at $1,024,000 after buying an additional 10,405 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Qorvo in the third quarter worth about $2,507,000. Virtu Financial LLC acquired a new stake in Qorvo during the third quarter worth about $1,211,000. Finally, Paloma Partners Management Co purchased a new position in Qorvo during the third quarter valued at approximately $5,165,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of QRVO opened at $72.91 on Tuesday. The firm has a 50-day simple moving average of $77.16 and a two-hundred day simple moving average of $81.18. The stock has a market cap of $6.81 billion, a PE ratio of 260.39, a P/E/G ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QRVO. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their target price on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Loop Capital lifted their price target on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Three equities research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $95.84.

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.