Qorvo, Inc. (NASDAQ:QRVO) Short Interest Update

by · The Markets Daily

Qorvo, Inc. (NASDAQ:QRVO – Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 6,120,000 shares, a decrease of 29.6% from the March 15th total of 8,690,000 shares. Approximately 6.6% of the shares of the company are sold short. Based on an average trading volume of 2,960,000 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Investors Weigh In On Qorvo

Large investors have recently modified their holdings of the business. Alexander Randolph Advisory Inc. grew its position in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock valued at $950,000 after acquiring an additional 140 shares during the last quarter. Huntington National Bank grew 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 purchasing an additional 145 shares during the last quarter. Truvestments Capital LLC increased its position in Qorvo by 7.2% during the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock worth $194,000 after purchasing an additional 185 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Qorvo by 67.4% in 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 during the last quarter. Finally, Versant Capital Management Inc boosted its position in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on QRVO. Citigroup lowered their price objective on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research note on Wednesday, January 29th. Loop Capital boosted their price target on Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. StockNews.com raised Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Finally, Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Qorvo has an average rating of “Hold” and an average target price of $95.84.

Check Out Our Latest Research Report on QRVO

Qorvo Price Performance

Shares of NASDAQ:QRVO traded up $0.81 during midday trading on Friday, hitting $57.63. The stock had a trading volume of 1,331,963 shares, compared to its average volume of 2,130,047. 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 company has a market capitalization of $5.38 billion, a P/E ratio of 205.82, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The company’s 50-day moving average price is $69.29 and its 200-day moving average price is $76.02. Qorvo has a fifty-two week low of $49.46 and a fifty-two week high of $130.99.

About Qorvo

(Get Free Report)

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.

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