Illinois Municipal Retirement Fund Has $1.73 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Illinois Municipal Retirement Fund trimmed its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 73.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,781 shares of the semiconductor company's stock after selling 67,082 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Qorvo were worth $1,733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Qorvo by 7.1% during the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock worth $157,920,000 after buying an additional 101,742 shares in the last quarter. KBC Group NV grew its position in Qorvo by 144.8% during the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock worth $75,328,000 after acquiring an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock worth $86,290,000 after purchasing an additional 487,621 shares in the last quarter. Van ECK Associates Corp raised its position in Qorvo by 23.9% in the third quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock valued at $83,429,000 after purchasing an additional 160,534 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Qorvo by 377.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock valued at $57,125,000 after purchasing an additional 645,829 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Benchmark reaffirmed a "hold" rating on shares of Qorvo in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Loop Capital lifted their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Stifel Nicolaus reduced their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley raised Qorvo from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $95.84.

Qorvo Stock Up 1.1 %

Shares of NASDAQ QRVO traded up $0.74 during trading on Tuesday, hitting $70.36. 969,628 shares of the company traded hands, compared to its average volume of 2,961,424. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The business's fifty day moving average is $77.04 and its 200 day moving average is $85.44. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 251.41, a P/E/G ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99.

Insiders Place Their Bets

In other news, SVP Philip Chesley sold 4,045 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares of the company's stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company's stock.

Qorvo Company Profile

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.