M&T Bank Corp Acquires 1,030 Shares of Qorvo, Inc. (NASDAQ:QRVO)

M&T Bank Corp raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 19.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,195 shares of the semiconductor company’s stock after purchasing an additional 1,030 shares during the period. M&T Bank Corp’s holdings in Qorvo were worth $433,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the period. SBI Securities Co. Ltd. bought a new position in Qorvo in the 4th quarter valued at $37,000. Versant Capital Management Inc boosted its holdings in Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 286 shares during the period. Farther Finance Advisors LLC boosted its holdings in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the period. Finally, Venturi Wealth Management LLC raised its position 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 buying an additional 250 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

QRVO has been the topic of several research reports. StockNews.com upgraded 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 price objective for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group lowered their price objective on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Finally, Stifel Nicolaus decreased their target price on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.84.

Qorvo Price Performance

Shares of Qorvo stock opened at $69.12 on Friday. The firm has a market cap of $6.46 billion, a PE ratio of 246.86, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. 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’s fifty day simple moving average is $77.18 and its two-hundred day simple moving average is $83.65.

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.