Kentucky Retirement Systems Buys 539 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Kentucky Retirement Systems grew its stake in Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,988 shares of the semiconductor company’s stock after acquiring an additional 539 shares during the period. Kentucky Retirement Systems’ holdings in Qorvo were worth $1,093,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC increased its stake in Qorvo by 956.7% during the 4th quarter. Lindbrook Capital LLC now owns 317 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 287 shares in the last quarter. Trustcore Financial Services LLC increased its stake in Qorvo by 3,655.6% during the 3rd quarter. Trustcore Financial Services LLC now owns 338 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 329 shares in the last quarter. Concord Wealth Partners increased its stake in Qorvo by 1,600.0% during the 4th quarter. Concord Wealth Partners now owns 408 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 384 shares in the last quarter. Allworth Financial LP increased its stake in Qorvo by 263.8% during the 3rd quarter. Allworth Financial LP now owns 462 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 335 shares in the last quarter. Finally, Ahrens Investment Partners LLC bought a new stake in Qorvo during the 4th quarter worth approximately $79,000. 83.49% of the stock is owned by institutional investors.

QRVO traded up $0.43 during trading hours on Tuesday, reaching $115.99. The company’s stock had a trading volume of 2,495 shares, compared to its average volume of 1,395,179. Qorvo, Inc. has a 52 week low of $111.74 and a 52 week high of $201.68. The company’s 50-day moving average is $127.20 and its 200-day moving average is $144.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.58 and a current ratio of 3.63. The firm has a market cap of $12.58 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.37.

Qorvo (NASDAQ:QRVOGet Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The semiconductor company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.28. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Qorvo had a return on equity of 27.27% and a net margin of 24.60%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.95 EPS. Equities analysts anticipate that Qorvo, Inc. will post 11.25 earnings per share for the current fiscal year.

In other Qorvo news, VP Paul J. Fego sold 861 shares of the stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $131.78, for a total transaction of $113,462.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the company. BMO Capital Markets reduced their price target on Qorvo from $185.00 to $160.00 and set a “market perform” rating for the company in a research report on Thursday, February 3rd. Wells Fargo & Company reduced their price target on Qorvo from $220.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 13th. Zacks Investment Research downgraded Qorvo from a “hold” rating to a “sell” rating and set a $135.00 price target for the company. in a research report on Friday, February 4th. Cowen reduced their price target on Qorvo from $230.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, February 3rd. Finally, Piper Sandler reduced their price target on Qorvo from $200.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $178.67.

Qorvo Company Profile (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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