Public Employees Retirement System of Ohio trimmed its position in Qorvo Inc (NASDAQ:QRVO) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,591 shares of the semiconductor company’s stock after selling 1,921 shares during the period. Public Employees Retirement System of Ohio’s holdings in Qorvo were worth $2,571,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QRVO. Geode Capital Management LLC raised its position in Qorvo by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 1,764,706 shares of the semiconductor company’s stock worth $106,998,000 after purchasing an additional 122,684 shares during the period. FMR LLC boosted its holdings in Qorvo by 15.5% in the first quarter. FMR LLC now owns 1,590,816 shares of the semiconductor company’s stock valued at $114,110,000 after purchasing an additional 213,091 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Qorvo by 3.6% in the second quarter. Fisher Asset Management LLC now owns 1,137,530 shares of the semiconductor company’s stock valued at $75,771,000 after purchasing an additional 39,136 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Qorvo by 61.5% in the second quarter. Panagora Asset Management Inc. now owns 789,371 shares of the semiconductor company’s stock valued at $52,580,000 after acquiring an additional 300,628 shares during the period. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Qorvo in the first quarter valued at approximately $54,992,000. Hedge funds and other institutional investors own 91.19% of the company’s stock.

NASDAQ QRVO traded down $0.06 on Tuesday, reaching $77.16. The company had a trading volume of 148,642 shares, compared to its average volume of 1,143,542. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.91 and a beta of 1.09. Qorvo Inc has a fifty-two week low of $54.74 and a fifty-two week high of $79.29. The business has a 50 day moving average of $72.58 and a two-hundred day moving average of $70.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.44 and a quick ratio of 2.30.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.23. The business had revenue of $775.60 million during the quarter, compared to the consensus estimate of $738.98 million. Qorvo had a return on equity of 15.77% and a net margin of 6.39%. Qorvo’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. As a group, research analysts predict that Qorvo Inc will post 4.3 earnings per share for the current fiscal year.

In related news, VP James L. Klein sold 1,914 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $70.56, for a total value of $135,051.84. Following the sale, the vice president now directly owns 50,031 shares of the company’s stock, valued at $3,530,187.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gina Harrison sold 1,328 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $75.98, for a total transaction of $100,901.44. Following the completion of the sale, the vice president now directly owns 18,689 shares in the company, valued at $1,419,990.22. The disclosure for this sale can be found here. Insiders sold 30,719 shares of company stock worth $2,194,325 over the last three months. Corporate insiders own 0.71% of the company’s stock.

Several brokerages recently weighed in on QRVO. Morgan Stanley increased their price target on Qorvo from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 target price (down previously from $87.00) on shares of Qorvo in a research note on Tuesday, May 21st. Cowen reaffirmed a “market perform” rating and set a $75.00 target price (up previously from $65.00) on shares of Qorvo in a research note on Friday, August 2nd. Mizuho set a $70.00 price target on shares of Qorvo and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, BidaskClub raised shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Qorvo has a consensus rating of “Hold” and an average target price of $77.45.

About Qorvo

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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