Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.6% during the first quarter, HoldingsChannel reports. The firm owned 37,469 shares of the semiconductor company’s stock after selling 3,533 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Qorvo were worth $4,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QRVO. State of Michigan Retirement System grew its stake in shares of Qorvo by 1.2% during the 4th quarter. State of Michigan Retirement System now owns 32,619 shares of the semiconductor company’s stock valued at $3,673,000 after buying an additional 400 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Qorvo during the 4th quarter valued at about $1,319,000. DekaBank Deutsche Girozentrale lifted its position in shares of Qorvo by 4.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 9,679 shares of the semiconductor company’s stock worth $1,092,000 after purchasing an additional 417 shares in the last quarter. Narwhal Capital Management purchased a new position in Qorvo in the 4th quarter valued at about $234,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Qorvo by 8.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 15,279 shares of Qorvo stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the sale, the chief executive officer now owns 190,161 shares in the company, valued at $19,016,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Qorvo news, CEO Robert A. Bruggeworth sold 15,279 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the completion of the transaction, the chief executive officer now directly owns 190,161 shares in the company, valued at $19,016,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Harding sold 941 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now directly owns 6,950 shares in the company, valued at $676,652. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,372 shares of company stock worth $4,517,858. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QRVO shares. Mizuho dropped their target price on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price target on Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a report on Wednesday. Piper Sandler reaffirmed a “neutral” rating and issued a $120.00 price target (up from $105.00) on shares of Qorvo in a research note on Wednesday. Raymond James upped their price target on shares of Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, TD Cowen upped their target price on Qorvo from $110.00 to $125.00 and gave the company a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $120.83.

Qorvo Trading Up 0.3 %

QRVO opened at $119.80 on Thursday. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $112.78 and a 200-day moving average of $110.62.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a positive return on equity of 14.73% and a negative net margin of 0.66%. The firm’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. Equities analysts forecast that Qorvo, Inc. will post 5.07 earnings per share for the current fiscal year.

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.