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

Talos Asset Management LP acquired a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 133,100 shares of the semiconductor company’s stock, valued at approximately $9,308,000. Qorvo comprises about 2.2% of Talos Asset Management LP’s portfolio, making the stock its 17th biggest position.

Several other large investors also recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. increased its stake in Qorvo by 11.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 43,481 shares of the semiconductor company’s stock worth $3,041,000 after acquiring an additional 4,497 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in Qorvo by 579.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 37,327 shares of the semiconductor company’s stock worth $2,610,000 after acquiring an additional 31,833 shares during the last quarter. Boston Partners increased its stake in Qorvo by 17.8% during the fourth quarter. Boston Partners now owns 110,709 shares of the semiconductor company’s stock worth $7,754,000 after acquiring an additional 16,735 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in 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. Finally, Kennondale Capital Management LLC purchased a new position in shares of Qorvo during the fourth quarter valued at approximately $838,000. 88.57% of the stock is owned by institutional investors.

Qorvo Stock Up 0.2 %

Qorvo stock opened at $72.18 on Thursday. The business has a fifty day moving average of $77.15 and a two-hundred day moving average of $82.18. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The firm has a market cap of $6.74 billion, a P/E ratio of 257.79, a P/E/G ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Barclays dropped their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group dropped their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Citigroup dropped their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company 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 analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Qorvo presently 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.