State of Alaska Department of Revenue Sells 1,330 Shares of Qorvo, Inc. (NASDAQ:QRVO)

State of Alaska Department of Revenue lessened its position in Qorvo, Inc. (NASDAQ:QRVOFree Report) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,991 shares of the semiconductor company’s stock after selling 1,330 shares during the quarter. State of Alaska Department of Revenue’s holdings in Qorvo were worth $4,165,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Highland Capital Management LLC grew its position in Qorvo by 48.9% in the 4th quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock worth $4,819,000 after purchasing an additional 14,060 shares during the last quarter. SG Americas Securities LLC grew its position in Qorvo by 298.9% in the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock worth $2,005,000 after purchasing an additional 13,340 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Qorvo by 4.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,464 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 394 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Qorvo in the 3rd quarter worth $389,000. Finally, FMR LLC grew its position in Qorvo by 7.6% in the 3rd quarter. FMR LLC now owns 680,516 shares of the semiconductor company’s stock worth $64,969,000 after purchasing an additional 48,125 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

NASDAQ:QRVO opened at $113.80 on Wednesday. The firm has a market cap of $10.99 billion, a PE ratio of -52.93, a price-to-earnings-growth ratio of 1.19 and a beta of 1.56. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $112.19 and its two-hundred day moving average price is $103.04.

Qorvo (NASDAQ:QRVOGet Free Report) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. On average, equities analysts anticipate that Qorvo, Inc. will post 4.95 EPS for the current fiscal year.

Analysts Set New Price Targets

QRVO has been the topic of several research analyst reports. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Barclays lifted their target price on shares of Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Craig Hallum lifted their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Raymond James lifted their target price on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $111.17.

Check Out Our Latest Report on Qorvo

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 354 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred 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 $3,386,370. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gina Harrison sold 354 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,381 shares of company stock valued at $745,434. Insiders own 0.43% of the company’s stock.

Qorvo Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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