New York State Teachers Retirement System Boosts Holdings in Qorvo, Inc. (NASDAQ:QRVO)

New York State Teachers Retirement System boosted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,693 shares of the semiconductor company’s stock after buying an additional 5,465 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Qorvo worth $9,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of QRVO. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Qorvo during the second quarter worth $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares during the period. Versant Capital Management Inc boosted its stake in shares of Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 280 shares during the period. New Millennium Group LLC purchased a new stake in shares of Qorvo during the second quarter valued at $34,000. Finally, Blue Trust Inc. boosted its stake in shares of Qorvo by 241.6% during the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 244 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Stock Performance

Shares of Qorvo stock opened at $71.86 on Monday. The company has a market capitalization of $6.79 billion, a PE ratio of -49.22, a P/E/G ratio of 3.98 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.36 and a current ratio of 1.90. The company has a 50-day simple moving average of $102.41 and a two-hundred day simple moving average of $107.19. Qorvo, Inc. has a one year low of $70.39 and a one year high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. The business 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 firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 earnings per share. Research analysts expect that Qorvo, Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on QRVO shares. Craig Hallum lowered their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. 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 research note on Wednesday, October 30th. Rosenblatt Securities boosted their target price on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Susquehanna lowered their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, TD Cowen decreased their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $104.75.

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.