California State Teachers Retirement System trimmed its stake in Qorvo, Inc. (NASDAQ:QRVO) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,254 shares of the semiconductor company’s stock after selling 18,668 shares during the period. California State Teachers Retirement System owned 0.17% of Qorvo worth $15,285,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Penserra Capital Management LLC bought a new position in shares of Qorvo in the 3rd quarter worth about $130,000. Federated Investors Inc. PA increased its stake in Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 90 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in Qorvo by 79.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 1,000 shares in the last quarter. Advisor Group Inc. increased its stake in Qorvo by 5.1% during the 2nd quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after purchasing an additional 126 shares in the last quarter. Finally, Global X Management Co. LLC increased its stake in Qorvo by 400.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 2,237 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Robert A. Bruggeworth sold 5,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $72.27, for a total transaction of $361,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter H. Wilkinson sold 15,925 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the sale, the director now directly owns 62,480 shares of the company’s stock, valued at $4,999,649.60. The disclosure for this sale can be found here. Insiders have sold 58,096 shares of company stock valued at $4,335,007 over the last three months. Insiders own 0.91% of the company’s stock.
A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Qorvo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Morgan Stanley lifted their price target on shares of Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. BidaskClub lowered shares of Qorvo from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. ValuEngine lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, JPMorgan Chase & Co. set a $88.00 price objective on shares of Qorvo and gave the stock a “buy” rating in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $76.89.
Shares of Qorvo, Inc. (QRVO) traded up $2.16 on Friday, reaching $71.04. 1,621,700 shares of the company traded hands, compared to its average volume of 1,620,000. Qorvo, Inc. has a 12 month low of $56.63 and a 12 month high of $81.20. The company has a market capitalization of $9,030.00 and a PE ratio of -507.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The company had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $810.47 million. During the same quarter in the previous year, the business posted $1.29 earnings per share. Qorvo’s quarterly revenue was down 5.0% on a year-over-year basis. analysts anticipate that Qorvo, Inc. will post 4.74 earnings per share for the current year.
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Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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