Public Employees Retirement Association of Colorado increased its holdings in shares of Qorvo Inc (NASDAQ:QRVO) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,796 shares of the semiconductor company’s stock after acquiring an additional 806 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Qorvo were worth $1,718,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in Qorvo during the 3rd quarter worth approximately $130,000. Harel Insurance Investments & Financial Services Ltd. grew its position 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 worth $159,000 after acquiring an additional 1,000 shares during the last quarter. Advisor Group Inc. grew its position in Qorvo by 5.1% during the 2nd quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after acquiring an additional 126 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in Qorvo during the 3rd quarter worth approximately $206,000. Finally, Achmea Investment Management B.V. bought a new stake in Qorvo during the 2nd quarter worth approximately $188,000. Institutional investors and hedge funds own 98.19% of the company’s stock.
Qorvo Inc (QRVO) opened at $77.31 on Friday. Qorvo Inc has a 1-year low of $62.68 and a 1-year high of $85.24. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $9,780.00, a price-to-earnings ratio of 368.14, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.09. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The firm had revenue of $845.70 million for the quarter, compared to the consensus estimate of $841.09 million. During the same quarter in the prior year, the business earned $1.35 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. equities analysts expect that Qorvo Inc will post 4.49 earnings per share for the current year.
A number of research firms recently commented on QRVO. BidaskClub lowered Qorvo from a “hold” rating to a “sell” rating in a research report on Saturday. Instinet upgraded Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 1st. Oppenheimer restated a “hold” rating on shares of Qorvo in a research report on Thursday, February 1st. BMO Capital Markets increased their price target on Qorvo from $63.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. Finally, Cowen increased their price target on Qorvo from $78.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. Qorvo currently has an average rating of “Hold” and a consensus target price of $80.42.
In other news, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $78.97, for a total value of $473,820.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Walter H. Wilkinson sold 15,925 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $80.02, for a total value of $1,274,318.50. Following the completion of the transaction, the director now directly owns 62,480 shares in the company, valued at approximately $4,999,649.60. The disclosure for this sale can be found here. In the last three months, insiders sold 45,496 shares of company stock worth $3,393,399. 0.91% of the stock is currently owned by company insiders.
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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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