Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 13.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,235 shares of the semiconductor company’s stock after selling 14,471 shares during the period. Illinois Municipal Retirement Fund owned 0.10% of Qorvo worth $10,499,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Zhang Financial LLC lifted its holdings in Qorvo by 2.7% in the fourth quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock worth $434,000 after acquiring an additional 102 shares during the last quarter. Wahed Invest LLC lifted its holdings in Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 108 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Qorvo by 1.5% in the third quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock worth $732,000 after acquiring an additional 116 shares during the last quarter. CWM LLC raised its holdings in shares of Qorvo by 6.3% during the third quarter. CWM LLC now owns 3,022 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 179 shares during the last quarter. Finally, Hanson & Doremus Investment Management raised its holdings in shares of Qorvo by 1.6% during the third quarter. Hanson & Doremus Investment Management now owns 12,437 shares of the semiconductor company’s stock valued at $1,187,000 after buying an additional 190 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Up 1.1 %

NASDAQ QRVO traded up $1.17 on Tuesday, hitting $108.29. 331,886 shares of the stock were exchanged, compared to its average volume of 1,251,572. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $121.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of -49.98, a P/E/G ratio of 0.81 and a beta of 1.56. The company’s 50-day moving average price is $113.60 and its two-hundred day moving average price is $104.70.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.47. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. Research analysts predict that Qorvo, Inc. will post 4.95 EPS for the current year.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock valued at $745,434 in the last quarter. Company insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on QRVO shares. The Goldman Sachs Group lifted their price target on Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Barclays lifted their price target on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, Rosenblatt Securities raised their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $111.53.

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.