New York State Common Retirement Fund Has $16.05 Million Stake in Qorvo, Inc. (NASDAQ:QRVO)

New York State Common Retirement Fund decreased its position in Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,347 shares of the semiconductor company’s stock after selling 2,413 shares during the period. New York State Common Retirement Fund owned 0.12% of Qorvo worth $16,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. increased its stake in Qorvo by 2.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,276 shares of the semiconductor company’s stock valued at $1,275,000 after purchasing an additional 279 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Qorvo by 3.4% during the first quarter. Daiwa Securities Group Inc. now owns 8,944 shares of the semiconductor company’s stock worth $1,110,000 after acquiring an additional 293 shares in the last quarter. Paradiem LLC grew its stake in Qorvo by 25.0% in the first quarter. Paradiem LLC now owns 17,352 shares of the semiconductor company’s stock valued at $1,986,000 after acquiring an additional 3,474 shares during the period. Teamwork Financial Advisors LLC raised its position in shares of Qorvo by 265.6% during the first quarter. Teamwork Financial Advisors LLC now owns 24,957 shares of the semiconductor company’s stock worth $3,097,000 after purchasing an additional 18,131 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in shares of Qorvo by 76.1% during the 1st quarter. AE Wealth Management LLC now owns 28,375 shares of the semiconductor company’s stock valued at $3,521,000 after purchasing an additional 12,264 shares in the last quarter. 85.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other news, Director Roderick Nelson sold 4,761 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $95.26, for a total transaction of $453,532.86. Following the completion of the sale, the director now owns 5,595 shares in the company, valued at $532,979.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Roderick Nelson sold 4,761 shares of the business’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $95.26, for a total value of $453,532.86. Following the completion of the sale, the director now directly owns 5,595 shares in the company, valued at approximately $532,979.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffery R. Gardner sold 5,000 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $108.68, for a total value of $543,400.00. Following the transaction, the director now owns 32,793 shares in the company, valued at approximately $3,563,943.24. The disclosure for this sale can be found here. Insiders have sold a total of 20,070 shares of company stock valued at $2,055,769 in the last three months. 0.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on QRVO shares. The Goldman Sachs Group dropped their target price on shares of Qorvo from $126.00 to $107.00 in a report on Friday, July 15th. Raymond James cut their price objective on shares of Qorvo from $155.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday. Cowen downgraded Qorvo from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $150.00 to $108.00 in a research note on Monday, July 11th. Cowen reduced their price objective on Qorvo from $108.00 to $100.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Barclays dropped their target price on Qorvo from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.55.

Qorvo Stock Down 2.3 %

QRVO opened at $106.09 on Friday. The company has a current ratio of 3.63, a quick ratio of 2.51 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $101.37 and its 200 day simple moving average is $115.30. Qorvo, Inc. has a 1-year low of $90.16 and a 1-year high of $198.00. The stock has a market cap of $11.00 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

Qorvo (NASDAQ:QRVOGet Rating) last posted its earnings results on Wednesday, May 4th. The semiconductor company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.32. Qorvo had a net margin of 17.87% and a return on equity of 26.00%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $2.59 EPS. Qorvo’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts expect that Qorvo, Inc. will post 9.65 earnings per share for the current year.

About Qorvo

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Qorvo, Inc develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.

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