Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Blue Trust Inc.

Blue Trust Inc. cut its position in Qorvo, Inc. (NASDAQ:QRVO) by 44.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 784 shares of the semiconductor company’s stock after selling 623 shares during the period. Blue Trust Inc.’s holdings in Qorvo were worth $55,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in QRVO. AustralianSuper Pty Ltd acquired a new stake in Qorvo during the 4th quarter worth $7,915,000. New York State Teachers Retirement System lifted its stake in shares of Qorvo by 13.8% in the fourth quarter. New York State Teachers Retirement System now owns 99,784 shares of the semiconductor company’s stock worth $6,978,000 after buying an additional 12,091 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Qorvo by 39.1% during the fourth quarter. Vontobel Holding Ltd. now owns 13,906 shares of the semiconductor company’s stock worth $972,000 after acquiring an additional 3,911 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Qorvo by 762.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 45,700 shares of the semiconductor company’s stock valued at $3,196,000 after acquiring an additional 40,400 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in Qorvo by 4.5% during the 4th quarter. Stephens Inc. AR now owns 8,300 shares of the semiconductor company’s stock valued at $580,000 after acquiring an additional 358 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on QRVO shares. JPMorgan Chase & Co. decreased their target price on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. Susquehanna reduced 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. The Goldman Sachs Group dropped their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. BNP Paribas lowered Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a report on Wednesday, October 30th. Finally, Bank of America lowered their price target on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus target price of $95.84.

Insider Transactions at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.46% of the company’s stock.

Qorvo Stock Down 0.2 %

Qorvo stock opened at $75.12 on Wednesday. The company has a market capitalization of $7.02 billion, a PE ratio of 268.29, a price-to-earnings-growth ratio of 15.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The firm has a 50 day moving average price of $76.88 and a 200 day moving average price of $86.50.

About Qorvo

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.