Louisiana State Employees Retirement System Sells 200 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Louisiana State Employees Retirement System reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.6% in the third quarter, Holdings Channel.com reports. The fund owned 5,300 shares of the semiconductor company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Qorvo were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in QRVO. Pacer Advisors Inc. boosted its holdings in shares of Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after acquiring an additional 1,418,784 shares during the period. Vulcan Value Partners LLC boosted its holdings in shares of Qorvo by 35.0% in the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after acquiring an additional 550,111 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Qorvo by 1,507.7% in the second quarter. Thrivent Financial for Lutherans now owns 347,715 shares of the semiconductor company’s stock worth $40,349,000 after acquiring an additional 326,087 shares during the period. Caxton Associates LP bought a new position in shares of Qorvo in the second quarter worth $34,812,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Qorvo by 177.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,678 shares of the semiconductor company’s stock worth $48,995,000 after acquiring an additional 272,872 shares during the period. 88.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on QRVO. Bank of America cut their price target on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. Needham & Company LLC assumed 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 downgraded Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. BNP Paribas downgraded Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research report on Wednesday, October 30th. Finally, Susquehanna lowered their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.75.

Qorvo Trading Up 0.6 %

NASDAQ QRVO opened at $71.80 on Wednesday. The stock’s 50-day simple moving average is $101.59 and its two-hundred day simple moving average is $106.91. Qorvo, Inc. has a twelve month low of $70.39 and a twelve month high of $130.99. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of -49.18, a PEG ratio of 4.23 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 earnings per share. Research analysts forecast that Qorvo, Inc. will post 4.59 EPS for the current fiscal year.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction dated Friday, September 6th. The stock was 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 in the company, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

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.