Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in Qorvo, Inc. (NASDAQ:QRVO) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,683 shares of the semiconductor company’s stock after selling 3,500 shares during the period. New York State Common Retirement Fund’s holdings in Qorvo were worth $3,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of QRVO. Larson Financial Group LLC raised its position in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 201 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 286 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 250 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Qorvo by 2,621.4% during the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 734 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Up 2.4 %

Shares of QRVO stock opened at $72.69 on Friday. The business’s 50 day moving average is $77.04 and its two-hundred day moving average is $86.31. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The company has a market capitalization of $6.79 billion, a P/E ratio of 259.61, a price-to-earnings-growth ratio of 15.57 and a beta of 1.41. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Insider Activity at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Barclays cut their price target on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.84.

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.