Louisiana State Employees Retirement System Takes $664,000 Position in Qorvo, Inc. (NASDAQ:QRVO)

Louisiana State Employees Retirement System bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,900 shares of the semiconductor company’s stock, valued at approximately $664,000.

Other institutional investors have also modified their holdings of the company. Huntington National Bank increased its holdings in shares of Qorvo by 8,090.0% in the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 809 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Qorvo in the third quarter valued at approximately $133,000. Allworth Financial LP increased its holdings in shares of Qorvo by 16.7% in the third quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 203 shares during the period. Wahed Invest LLC increased its holdings in shares of Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 108 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in Qorvo during the third quarter worth $203,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Susquehanna reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Qorvo in a report on Monday, April 8th. The Goldman Sachs Group upped their price objective on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Craig Hallum upped their price objective on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Qorvo in a report on Thursday, February 1st. Finally, Raymond James upped their target price on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $111.53.

Qorvo Stock Up 1.8 %

Shares of NASDAQ:QRVO opened at $116.75 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $121.65. The stock’s fifty day simple moving average is $113.61 and its 200-day simple moving average is $105.23. The company has a market capitalization of $11.27 billion, a P/E ratio of -54.30, a P/E/G ratio of 0.90 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1 billion. As a group, equities research analysts forecast that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now directly owns 77,552 shares in the company, valued at $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Paul J. Fego sold 3,027 shares of the 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 transaction, the senior vice president now directly owns 29,705 shares in the company, valued at $3,386,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven E. Creviston sold 3,000 shares of the 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 transaction, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is owned by company 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.