Public Employees Retirement Association of Colorado decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,770 shares of the semiconductor company’s stock after selling 74 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Qorvo were worth $1,632,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Qorvo by 2.3% in the first quarter. Vanguard Group Inc. now owns 12,118,959 shares of the semiconductor company’s stock worth $830,876,000 after buying an additional 275,709 shares during the last quarter. BlackRock Inc. raised its stake in Qorvo by 3,264.5% in the first quarter. BlackRock Inc. now owns 8,737,400 shares of the semiconductor company’s stock worth $599,038,000 after buying an additional 8,477,705 shares during the last quarter. Baupost Group LLC MA bought a new stake in Qorvo during the first quarter worth approximately $492,639,000. State Street Corp raised its stake in Qorvo by 1.8% in the first quarter. State Street Corp now owns 5,527,332 shares of the semiconductor company’s stock worth $378,951,000 after buying an additional 98,614 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Qorvo during the second quarter worth approximately $101,456,000. 97.39% of the stock is currently owned by institutional investors and hedge funds.

Qorvo, Inc. (QRVO) opened at 68.90 on Friday. The stock has a 50 day moving average price of $67.19 and a 200-day moving average price of $68.93. The stock’s market capitalization is $8.77 billion. Qorvo, Inc. has a 12-month low of $48.28 and a 12-month high of $79.34.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The firm had revenue of $640.80 million for the quarter, compared to the consensus estimate of $632.18 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities research analysts expect that Qorvo, Inc. will post $5.54 EPS for the current year.

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A number of analysts recently commented on QRVO shares. Cowen and Company reaffirmed a “market perform” rating and set a $85.00 price objective (up previously from $74.00) on shares of Qorvo in a research note on Friday, May 26th. Craig Hallum increased their price objective on Qorvo from $68.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, May 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $63.00 price objective on shares of Qorvo in a research note on Monday, June 12th. Barclays PLC increased their price objective on Qorvo from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 18th. Finally, TheStreet raised Qorvo from a “c+” rating to a “b” rating in a research note on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Qorvo has a consensus rating of “Hold” and an average price target of $73.28.

In other Qorvo news, insider Robert A. Bruggeworth sold 27,840 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $77.87, for a total value of $2,167,900.80. Following the transaction, the insider now owns 238,682 shares in the company, valued at $18,586,167.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James L. Klein sold 2,600 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $63.49, for a total value of $165,074.00. Following the completion of the transaction, the vice president now owns 40,058 shares in the company, valued at approximately $2,543,282.42. The disclosure for this sale can be found here. Insiders sold 145,426 shares of company stock worth $10,440,193 in the last 90 days. Corporate insiders own 0.91% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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