Shelton Capital Management Makes New $257,000 Investment in Qorvo, Inc. (NASDAQ:QRVO)

Shelton Capital Management bought a new position in Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, HoldingsChannel.com reports. The fund bought 3,682 shares of the semiconductor company’s stock, valued at approximately $257,000.

A number of other large investors have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Qorvo during the 4th quarter valued at $28,000. Huntington National Bank lifted its holdings in shares of Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Qorvo in the 4th quarter valued at approximately $37,000. Versant Capital Management Inc increased its holdings in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after buying an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on QRVO shares. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Loop Capital boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Mizuho raised their target price on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Citigroup dropped their target price on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Three 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.84.

Qorvo Price Performance

Qorvo stock opened at $56.27 on Friday. The business has a 50 day simple moving average of $70.99 and a 200 day simple moving average of $77.11. 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 company has a market capitalization of $5.26 billion, a PE ratio of 200.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99.

Qorvo 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.