Strs Ohio lessened its holdings in Qorvo Inc (NASDAQ:QRVO) by 28.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 500,230 shares of the semiconductor company’s stock after selling 199,989 shares during the period. Strs Ohio’s holdings in Qorvo were worth $35,881,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oakbrook Investments LLC acquired a new position in Qorvo during the first quarter worth approximately $453,000. FNY Investment Advisers LLC acquired a new position in Qorvo during the first quarter worth approximately $201,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Qorvo by 13.1% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 15,825 shares of the semiconductor company’s stock worth $1,135,000 after purchasing an additional 1,837 shares during the last quarter. Virtu Financial LLC acquired a new position in Qorvo during the first quarter worth approximately $275,000. Finally, Lavaca Capital LLC acquired a new position in Qorvo during the first quarter worth approximately $45,000. 95.30% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on QRVO shares. TheStreet raised shares of Qorvo from a “c+” rating to a “b-” rating in a research report on Monday, March 25th. JPMorgan Chase & Co. set a $80.00 price target on shares of Qorvo and gave the stock a “buy” rating in a research report on Friday, January 4th. Craig Hallum raised shares of Qorvo from a “hold” rating to a “buy” rating and dropped their price target for the stock from $74.00 to $72.00 in a research report on Thursday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Qorvo in a research report on Monday, March 4th. Finally, Goldman Sachs Group raised shares of Qorvo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $79.00 in a research report on Thursday, March 21st. Fourteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Qorvo presently has an average rating of “Hold” and a consensus target price of $76.00.

QRVO opened at $76.68 on Friday. The company has a quick ratio of 2.78, a current ratio of 3.90 and a debt-to-equity ratio of 0.16. Qorvo Inc has a 52-week low of $54.74 and a 52-week high of $86.50. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.40 and a beta of 0.91.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Thursday, February 7th. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.30. Qorvo had a net margin of 1.92% and a return on equity of 14.11%. The company had revenue of $832.20 million during the quarter, compared to the consensus estimate of $819.21 million. During the same period in the previous year, the firm earned $1.69 earnings per share. Qorvo’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts predict that Qorvo Inc will post 5.03 earnings per share for the current fiscal year.

In other news, Director Ralph Quinsey sold 209,349 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $69.01, for a total value of $14,447,174.49. Following the completion of the transaction, the director now directly owns 84,242 shares in the company, valued at $5,813,540.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $65.00, for a total transaction of $390,000.00. Following the completion of the transaction, the vice president now owns 61,006 shares of the company’s stock, valued at $3,965,390. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,295 shares of company stock valued at $15,753,409. 0.85% of the stock is owned by insiders.

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Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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