Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 762.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,700 shares of the semiconductor company's stock after buying an additional 40,400 shares during the quarter. Louisiana State Employees Retirement System's holdings in Qorvo were worth $3,196,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mediolanum International Funds Ltd bought a new stake in shares of Qorvo during the fourth quarter valued at approximately $1,177,000. GDS Wealth Management purchased a new position in Qorvo during the third quarter valued at $2,171,000. Robeco Institutional Asset Management B.V. increased its holdings in Qorvo by 78.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after acquiring an additional 236,590 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Qorvo by 245.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock worth $1,024,000 after purchasing an additional 10,405 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Qorvo in the third quarter worth about $2,507,000. Hedge funds and other institutional investors own 88.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price target 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. JPMorgan Chase & Co. decreased their price target on Qorvo from $115.00 to $95.00 and set an "underweight" rating for the company in a research note on Wednesday, October 30th. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Susquehanna lowered their target price on Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Three equities 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. According to MarketBeat, Qorvo currently has a consensus rating of "Hold" and a consensus target price of $95.84.

Insider Buying and Selling

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

Qorvo Stock Performance

Shares of NASDAQ QRVO traded down $1.33 during mid-day trading on Monday, hitting $76.16. The stock had a trading volume of 1,438,542 shares, compared to its average volume of 3,590,921. The company has a 50 day moving average of $76.03 and a two-hundred day moving average of $87.69. 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 firm has a market cap of $7.11 billion, a PE ratio of 272.00, a PEG ratio of 15.93 and a beta of 1.41. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99.

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.