Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in Qorvo, Inc. (NASDAQ:QRVO) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,366 shares of the semiconductor company’s stock after selling 741 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Qorvo were worth $761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QRVO. Pacer Advisors Inc. raised its stake in shares of Qorvo by 17,255.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after buying an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after acquiring an additional 550,111 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Qorvo by 140.2% during the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after acquiring an additional 487,621 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Qorvo in the second quarter valued at about $34,812,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after purchasing an additional 236,590 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on QRVO shares. TD Cowen reduced their target price on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Needham & Company LLC began coverage on Qorvo in a research report on Monday, October 28th. They issued a “buy” rating and a $135.00 price objective on the stock. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, Bank of America lowered their price target on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $102.88.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ:QRVO opened at $68.50 on Thursday. The business has a 50-day moving average of $79.04 and a two-hundred day moving average of $99.69. The firm has a market capitalization of $6.48 billion, a PE ratio of -46.92, a P/E/G ratio of 5.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 EPS. As a group, research analysts forecast that Qorvo, Inc. will post 3.37 earnings per share for the current year.

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.