California Public Employees Retirement System Lowers Position in Qorvo, Inc. (NASDAQ:QRVO)

California Public Employees Retirement System lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,282 shares of the semiconductor company’s stock after selling 11,818 shares during the period. California Public Employees Retirement System’s holdings in Qorvo were worth $21,315,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of QRVO. Czech National Bank boosted its position in Qorvo by 44.7% in the 3rd quarter. Czech National Bank now owns 17,113 shares of the semiconductor company’s stock worth $1,634,000 after purchasing an additional 5,289 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Qorvo in the 3rd quarter worth approximately $1,011,000. Robeco Institutional Asset Management B.V. boosted its position in Qorvo by 7.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 242,836 shares of the semiconductor company’s stock worth $23,184,000 after purchasing an additional 17,370 shares in the last quarter. Xponance Inc. boosted its position in Qorvo by 1.7% in the 3rd quarter. Xponance Inc. now owns 14,159 shares of the semiconductor company’s stock worth $1,352,000 after purchasing an additional 240 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Qorvo by 1.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,435 shares of the semiconductor company’s stock worth $2,142,000 after purchasing an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 1.8 %

NASDAQ QRVO opened at $116.75 on Monday. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65. The business has a fifty day moving average price of $113.61 and a 200 day moving average price of $105.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. On average, equities research analysts forecast that Qorvo, Inc. will post 4.95 EPS for the current fiscal year.

Analyst Ratings Changes

QRVO has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price on shares of Qorvo in a research report on Thursday, February 1st. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Rosenblatt Securities increased their target price on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Barclays increased their target price on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group increased their target price on Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and a consensus target price of $111.53.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock valued at $745,434 in the last three months. 0.43% of the stock is currently owned by insiders.

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.