Public Employees Retirement System of Ohio Sells 3,533 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Public Employees Retirement System of Ohio lessened its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,469 shares of the semiconductor company’s stock after selling 3,533 shares during the period. Public Employees Retirement System of Ohio’s holdings in Qorvo were worth $4,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State of Michigan Retirement System increased its stake in shares of Qorvo by 1.2% during the fourth quarter. State of Michigan Retirement System now owns 32,619 shares of the semiconductor company’s stock valued at $3,673,000 after purchasing an additional 400 shares in the last quarter. International Assets Investment Management LLC bought a new position in Qorvo during the 4th quarter valued at approximately $1,319,000. DekaBank Deutsche Girozentrale raised its stake in Qorvo by 4.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 9,679 shares of the semiconductor company’s stock valued at $1,092,000 after buying an additional 417 shares during the last quarter. Narwhal Capital Management bought a new stake in Qorvo in the fourth quarter worth $234,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Qorvo by 8.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 200 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Qorvo

In related news, SVP Paul J. Fego sold 2,132 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the transaction, the senior vice president now directly owns 25,201 shares in the company, valued at approximately $2,502,711.31. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director John R. Harding sold 941 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now directly owns 6,950 shares in the company, valued at $676,652. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Paul J. Fego sold 2,132 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total value of $211,728.92. Following the sale, the senior vice president now owns 25,201 shares of the company’s stock, valued at approximately $2,502,711.31. The disclosure for this sale can be found here. Insiders have sold 45,372 shares of company stock valued at $4,517,858 over the last quarter. 0.46% of the stock is currently owned by company insiders.

Qorvo Stock Up 0.3 %

Shares of NASDAQ QRVO opened at $119.80 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $130.99. The firm has a 50 day moving average of $112.78 and a 200 day moving average of $110.62.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.73% and a negative net margin of 0.66%. Qorvo’s revenue was up 36.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. Sell-side analysts expect that Qorvo, Inc. will post 5.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on QRVO. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday. Susquehanna cut their price target on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays raised their price target on shares of Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Mizuho cut their target price on Qorvo from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $120.83.

Qorvo 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.