Texas Permanent School Fund decreased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 35,711 shares of the semiconductor company’s stock after selling 1,237 shares during the period. Texas Permanent School Fund’s holdings in Qorvo were worth $2,261,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of QRVO. BlackRock Inc. increased its stake in shares of 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 period. Baupost Group LLC MA acquired a new stake in shares of Qorvo during the first quarter valued at $492,639,000. Manning & Napier Advisors LLC acquired a new stake in shares of Qorvo during the second quarter valued at $101,456,000. Todd Asset Management LLC increased its stake in shares of Qorvo by 182.7% in the first quarter. Todd Asset Management LLC now owns 699,334 shares of the semiconductor company’s stock valued at $47,947,000 after buying an additional 451,987 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Qorvo by 105.3% in the first quarter. Strs Ohio now owns 876,710 shares of the semiconductor company’s stock valued at $60,107,000 after buying an additional 449,775 shares during the last quarter. Institutional investors and hedge funds own 97.39% of the company’s stock.

Qorvo, Inc. (QRVO) opened at 67.77 on Friday. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34. The company’s market cap is $8.62 billion. The company has a 50-day moving average price of $67.24 and a 200 day moving average price of $68.88.

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

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QRVO has been the topic of several recent analyst reports. Barclays PLC increased their price target on Qorvo from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 18th. Benchmark Co. initiated coverage on Qorvo in a report on Tuesday, April 25th. They issued a “buy” rating on the stock. Cowen and Company reiterated a “market perform” rating and issued a $74.00 price target (up from $60.00) on shares of Qorvo in a report on Thursday, May 4th. Craig Hallum increased their price target on Qorvo from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, DA Davidson downgraded Qorvo from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a report on Thursday, May 4th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Qorvo currently has an average rating of “Hold” and an average target price of $73.28.

In other Qorvo news, insider Robert A. Bruggeworth sold 4,320 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $68.19, for a total value of $294,580.80. Following the sale, the insider now owns 206,925 shares of the company’s stock, valued at $14,110,215.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert A. Bruggeworth sold 19,847 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $68.44, for a total value of $1,358,328.68. Following the completion of the sale, the insider now directly owns 220,809 shares in the company, valued at approximately $15,112,167.96. The disclosure for this sale can be found here. In the last three months, insiders sold 145,426 shares of company stock worth $10,440,193. 0.91% of the stock is owned by corporate insiders.

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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