Oregon Public Employees Retirement Fund Boosts Position in Qorvo Inc (NASDAQ:QRVO)

Oregon Public Employees Retirement Fund boosted its holdings in Qorvo Inc (NASDAQ:QRVO) by 7.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 66,511 shares of the semiconductor company’s stock after purchasing an additional 4,804 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Qorvo were worth $4,430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of QRVO. Norges Bank purchased a new position in Qorvo in the fourth quarter valued at approximately $91,781,000. Neuberger Berman Group LLC purchased a new position in Qorvo in the first quarter valued at approximately $54,992,000. Thompson Siegel & Walmsley LLC purchased a new position in Qorvo in the first quarter valued at approximately $43,431,000. Boston Partners raised its holdings in Qorvo by 6.5% in the first quarter. Boston Partners now owns 3,916,687 shares of the semiconductor company’s stock valued at $280,944,000 after buying an additional 238,370 shares during the period. Finally, FMR LLC raised its holdings in Qorvo by 15.5% in the first quarter. FMR LLC now owns 1,590,816 shares of the semiconductor company’s stock valued at $114,110,000 after buying an additional 213,091 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

In other news, VP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $74.84, for a total transaction of $224,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert A. Bruggeworth sold 25,831 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $72.52, for a total transaction of $1,873,264.12. Following the sale, the insider now directly owns 201,794 shares of the company’s stock, valued at approximately $14,634,100.88. The disclosure for this sale can be found here. Insiders have sold 34,573 shares of company stock valued at $2,488,757 in the last three months. Corporate insiders own 0.71% of the company’s stock.

Shares of QRVO traded up $1.86 during mid-day trading on Thursday, reaching $75.15. 54,709 shares of the stock traded hands, compared to its average volume of 936,375. Qorvo Inc has a 12-month low of $54.74 and a 12-month high of $86.50. The company has a current ratio of 3.87, a quick ratio of 2.69 and a debt-to-equity ratio of 0.21. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.28 and a beta of 1.08. The firm has a fifty day moving average of $68.73.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.23. Qorvo had a net margin of 4.31% and a return on equity of 14.66%. The business had revenue of $680.88 million during the quarter, compared to the consensus estimate of $670.59 million. During the same quarter last year, the company earned $1.07 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Qorvo Inc will post 4.12 earnings per share for the current year.

QRVO has been the topic of several research reports. BidaskClub upgraded shares of Qorvo from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Cowen restated a “market perform” rating and issued a $75.00 price target on shares of Qorvo in a report on Tuesday, May 21st. Craig Hallum restated a “buy” rating and issued a $75.00 price target on shares of Qorvo in a report on Tuesday, May 21st. Raymond James raised their price target on shares of Qorvo from $70.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, DA Davidson dropped their price objective on shares of Qorvo to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. Fifteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $75.52.

Qorvo 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.

Featured Story: Liquidity

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