Louisiana State Employees Retirement System Has $3.20 Million Position in Qorvo, Inc. (NASDAQ:QRVO)

Louisiana State Employees Retirement System lifted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 762.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,700 shares of the semiconductor company’s stock after purchasing an additional 40,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Qorvo were worth $3,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mediolanum International Funds Ltd acquired a new stake in shares of Qorvo in the fourth quarter valued at approximately $1,177,000. GDS Wealth Management acquired a new stake in Qorvo during the 3rd quarter worth $2,171,000. Robeco Institutional Asset Management B.V. grew its holdings in Qorvo by 78.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock worth $55,548,000 after acquiring an additional 236,590 shares during the period. Janney Montgomery Scott LLC grew its holdings in Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after acquiring an additional 10,405 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Qorvo during the 3rd quarter worth $2,507,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QRVO. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Bank of America lowered their target price 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. Barclays reduced their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. BNP Paribas cut shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research report on Wednesday, October 30th. Finally, UBS Group reduced their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.84.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

Qorvo Stock Up 0.6 %

Qorvo stock opened at $77.49 on Friday. The firm has a market capitalization of $7.24 billion, a PE ratio of 276.75, a P/E/G ratio of 15.93 and a beta of 1.41. The company’s 50-day moving average is $75.74 and its 200-day moving average is $88.70. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78.

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.