Qorvo, Inc. (QRVO) Shares Bought by New York State Common Retirement Fund
New York State Common Retirement Fund lifted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 281,400 shares of the semiconductor company’s stock after purchasing an additional 4,500 shares during the quarter. New York State Common Retirement Fund owned about 0.22% of Qorvo worth $19,889,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of QRVO. CIBC Asset Management Inc grew its stake in shares of Qorvo by 49.6% during the 3rd quarter. CIBC Asset Management Inc now owns 13,264 shares of the semiconductor company’s stock worth $937,000 after purchasing an additional 4,398 shares during the period. Sei Investments Co. grew its stake in Qorvo by 24.5% in the 3rd quarter. Sei Investments Co. now owns 30,000 shares of the semiconductor company’s stock valued at $2,120,000 after acquiring an additional 5,905 shares during the period. BNP Paribas Arbitrage SA grew its stake in Qorvo by 39.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 85,762 shares of the semiconductor company’s stock valued at $6,062,000 after acquiring an additional 24,323 shares during the period. Princeton Capital Management Inc. grew its stake in Qorvo by 13.7% in the 3rd quarter. Princeton Capital Management Inc. now owns 15,611 shares of the semiconductor company’s stock valued at $1,103,000 after acquiring an additional 1,883 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Qorvo by 79.9% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 1,000 shares during the period. 96.74% of the stock is owned by institutional investors.
In other Qorvo news, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $73.37, for a total value of $440,220.00. Following the completion of the transaction, the vice president now directly owns 106,725 shares of the company’s stock, valued at approximately $7,830,413.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roderick Nelson sold 860 shares of Qorvo stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $69.03, for a total value of $59,365.80. Following the completion of the transaction, the director now directly owns 3,762 shares of the company’s stock, valued at $259,690.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,696 shares of company stock worth $4,605,411. 0.91% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on QRVO shares. Instinet started coverage on shares of Qorvo in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $75.00 price target on the stock. Craig Hallum reissued a “buy” rating on shares of Qorvo in a research note on Wednesday, September 13th. Mizuho restated a “hold” rating and issued a $70.00 price objective on shares of Qorvo in a report on Monday, October 9th. J P Morgan Chase & Co set a $88.00 price objective on Qorvo and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, KeyCorp restated a “sector perform” rating on shares of Qorvo in a report on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $76.89.
Shares of Qorvo, Inc. (QRVO) opened at $67.29 on Thursday. The stock has a market cap of $8,724.90, a PE ratio of 17.16, a P/E/G ratio of 1.16 and a beta of 1.02. Qorvo, Inc. has a fifty-two week low of $52.05 and a fifty-two week high of $81.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. The firm had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. Qorvo’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. equities analysts predict that Qorvo, Inc. will post 4.74 earnings per share for the current year.
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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