Qorvo, Inc. (NASDAQ:QRVO) Short Interest Down 29.6% in March

Qorvo, Inc. (NASDAQ:QRVO) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 6,120,000 shares, a decline of 29.6% from the March 15th total of 8,690,000 shares. Based on an average trading volume of 2,960,000 shares, the short-interest ratio is presently 2.1 days. Approximately 6.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Qorvo

Institutional investors and hedge funds have recently modified their holdings of the business. Stifel Financial Corp boosted its stake in shares of Qorvo by 11.8% during the 3rd quarter. Stifel Financial Corp now owns 7,649 shares of the semiconductor company’s stock worth $790,000 after acquiring an additional 807 shares in the last quarter. MML Investors Services LLC raised its position in shares of Qorvo by 10.9% in the third quarter. MML Investors Services LLC now owns 3,532 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 347 shares during the period. Virtu Financial LLC acquired a new stake in shares of Qorvo in the third quarter worth $1,211,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Qorvo during the 3rd quarter worth $200,000. Finally, Tidal Investments LLC grew its stake in Qorvo by 188.1% in the 3rd quarter. Tidal Investments LLC now owns 37,729 shares of the semiconductor company’s stock valued at $3,897,000 after buying an additional 24,635 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Ratings Changes

QRVO has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Benchmark reissued a “hold” rating on shares of Qorvo in a report on Wednesday, January 29th. Loop Capital increased their price objective on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, Mizuho lifted their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.84.

Qorvo Price Performance

NASDAQ QRVO opened at $57.63 on Friday. The company has a 50 day moving average price of $68.91 and a two-hundred day moving average price of $75.55. Qorvo has a 12-month low of $49.46 and a 12-month high of $130.99. The stock has a market capitalization of $5.38 billion, a PE ratio of 205.82, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

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.