Talos Asset Management LP Makes New $9.31 Million Investment in Qorvo, Inc. (NASDAQ:QRVO)

Talos Asset Management LP bought a new position in Qorvo, Inc. (NASDAQ:QRVO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 133,100 shares of the semiconductor company’s stock, valued at approximately $9,308,000. Qorvo makes up approximately 2.2% of Talos Asset Management LP’s investment portfolio, making the stock its 17th largest holding. Talos Asset Management LP owned about 0.14% of Qorvo as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of QRVO. Amundi boosted its stake in shares of Qorvo by 84.4% in 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. Wealthfront Advisers LLC boosted its stake 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 worth $65,153,000 after buying an additional 920,901 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock worth $57,125,000 after buying an additional 645,829 shares during the last quarter. KBC Group NV boosted its stake in shares of Qorvo by 144.8% in the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock worth $75,328,000 after buying an additional 637,087 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Qorvo by 320.0% in the 4th quarter. Principal Financial Group Inc. now owns 458,178 shares of the semiconductor company’s stock worth $32,040,000 after buying an additional 349,078 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 0.2 %

Shares of QRVO stock opened at $72.18 on Thursday. 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’s 50-day moving average price is $77.15 and its 200-day moving average price is $82.18. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 257.79, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Loop Capital lifted their target price on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. Finally, Mizuho lifted their target price on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Three investment 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. According to MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $95.84.

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.