Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 32.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,627 shares of the semiconductor company’s stock after selling 16,099 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Qorvo were worth $3,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. increased its holdings in shares of Qorvo by 5.6% in the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 96 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Qorvo by 0.4% in the fourth quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock valued at $2,825,000 after purchasing an additional 103 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares during the period. Empirical Finance LLC increased its holdings in shares of Qorvo by 3.2% in the first quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock valued at $433,000 after purchasing an additional 117 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Qorvo by 12.9% in the first quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock valued at $119,000 after purchasing an additional 119 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Price Performance

Qorvo stock opened at $100.00 on Wednesday. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of -136.99, a PEG ratio of 1.28 and a beta of 1.46. The company has a fifty day simple moving average of $113.71 and a 200-day simple moving average of $110.81. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, equities analysts anticipate that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on QRVO. TD Cowen upgraded Qorvo to a “hold” rating in a research report on Monday. Raymond James boosted their target price on shares of Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Susquehanna decreased their target price on shares of Qorvo from $145.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities boosted their target price on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average target price of $121.00.

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.