New Jersey Better Educational Savings Trust acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,000 shares of the semiconductor company’s stock, valued at approximately $443,000.

A number of other hedge funds have also bought and sold shares of QRVO. Benjamin F. Edwards & Company Inc. increased its stake in Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock valued at $114,000 after buying an additional 552 shares during the last quarter. IFP Advisors Inc increased its stake in Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 670 shares during the last quarter. NEXT Financial Group Inc increased its stake in Qorvo by 2.1% in the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock valued at $150,000 after buying an additional 49 shares during the last quarter. Global X Management Co. LLC increased its stake in Qorvo by 400.9% in the second quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 2,237 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Qorvo during the first quarter valued at about $191,000. 97.39% of the stock is owned by institutional investors and hedge funds.

Shares of Qorvo, Inc. (QRVO) opened at 67.77 on Friday. Qorvo, Inc. has a 1-year low of $48.28 and a 1-year high of $79.34. The stock’s 50 day moving average price is $67.24 and its 200-day moving average price is $68.88. The company’s market capitalization is $8.62 billion.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate 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 company had revenue of $640.80 million for the quarter, compared to analysts’ expectations of $632.18 million. During the same period last year, the firm posted $1.08 earnings per share. Qorvo’s revenue was down 8.3% compared to the same quarter last year. On average, equities analysts predict that Qorvo, Inc. will post $5.54 EPS for the current year.

TRADEMARK VIOLATION WARNING: “New Jersey Better Educational Savings Trust Acquires Shares of 7,000 Qorvo, Inc. (NASDAQ:QRVO)” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another site, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/08/11/new-jersey-better-educational-savings-trust-acquires-shares-of-7000-qorvo-inc-nasdaqqrvo.html.

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

In related news, insider Robert A. Bruggeworth sold 27,840 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $77.87, for a total transaction of $2,167,900.80. Following the sale, the insider now directly owns 238,682 shares of the company’s stock, valued at $18,586,167.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert A. Bruggeworth sold 19,847 shares of the stock in a transaction 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 sale, the insider now directly owns 220,809 shares in the company, valued at $15,112,167.96. The disclosure for this sale can be found here. Insiders have sold 145,426 shares of company stock worth $10,440,193 over the last ninety days. 0.91% of the stock is currently owned by insiders.

About Qorvo

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).

Want to see what other hedge funds are holding QRVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qorvo, Inc. (NASDAQ:QRVO).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

Receive News & Ratings for Qorvo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo Inc. and related companies with MarketBeat.com's FREE daily email newsletter.