5,900 Shares in Qorvo, Inc. (NASDAQ:QRVO) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in Qorvo, Inc. (NASDAQ:QRVO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,900 shares of the semiconductor company’s stock, valued at approximately $664,000.

Several other large investors also recently bought and sold shares of QRVO. Barclays PLC increased its position in Qorvo by 646.2% during the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after acquiring an additional 3,347,972 shares during the last quarter. UBS Group AG increased its position in Qorvo by 491.9% during the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after acquiring an additional 1,053,157 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Qorvo by 268.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 537,541 shares of the semiconductor company’s stock valued at $51,319,000 after acquiring an additional 391,570 shares during the last quarter. Invesco Ltd. increased its position in Qorvo by 18.9% during the third quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock valued at $189,964,000 after acquiring an additional 316,328 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Qorvo by 201.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 405,143 shares of the semiconductor company’s stock valued at $45,623,000 after acquiring an additional 270,745 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction on 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 owns 29,705 shares in the company, valued at approximately $3,386,370. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,381 shares of company stock worth $745,434. Corporate insiders own 0.43% of the company’s stock.

Qorvo Trading Up 1.8 %

Shares of NASDAQ:QRVO opened at $116.75 on Monday. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of -54.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The business’s 50 day moving average price is $113.61 and its 200-day moving average price is $105.23.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. On average, equities research analysts forecast that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QRVO shares. Craig Hallum boosted their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. The Goldman Sachs Group upped their price target on shares of Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Raymond James upped their price target on shares of Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Piper Sandler lowered their price objective on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Qorvo in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $111.53.

Qorvo Company 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.