Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 173.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,200 shares of the semiconductor company's stock after acquiring an additional 14,096 shares during the period. Oregon Public Employees Retirement Fund's holdings in Qorvo were worth $1,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Qorvo by 14.4% in the third quarter. Creative Planning now owns 11,151 shares of the semiconductor company's stock worth $1,152,000 after buying an additional 1,400 shares during the last quarter. International Assets Investment Management LLC boosted its position in Qorvo by 10,229.8% in the 3rd quarter. International Assets Investment Management LLC now owns 10,743 shares of the semiconductor company's stock worth $1,110,000 after purchasing an additional 10,639 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Qorvo by 12.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,552 shares of the semiconductor company's stock worth $470,000 after purchasing an additional 501 shares in the last quarter. abrdn plc grew its stake in shares of Qorvo by 17.1% during the 3rd quarter. abrdn plc now owns 48,414 shares of the semiconductor company's stock worth $4,965,000 after purchasing an additional 7,054 shares during the period. Finally, New York State Teachers Retirement System increased its holdings in shares of Qorvo by 6.6% during the 3rd quarter. New York State Teachers Retirement System now owns 87,693 shares of the semiconductor company's stock valued at $9,059,000 after purchasing an additional 5,465 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

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Qorvo Price Performance

Shares of QRVO stock traded up $0.74 during trading hours on Tuesday, reaching $70.36. The company had a trading volume of 969,628 shares, compared to its average volume of 2,961,424. Qorvo, Inc. has a 12-month low of $64.54 and a 12-month high of $130.99. 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 company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 251.41, a PEG ratio of 15.57 and a beta of 1.48. The stock has a fifty day moving average of $77.04 and a 200-day moving average of $85.44.

Insider Buying and Selling at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of the business's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company's stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

QRVO has been the topic of several analyst reports. StockNews.com upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Loop Capital raised their target price on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Stifel Nicolaus reduced their price target on Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Benchmark reiterated a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Piper Sandler upgraded 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. Three 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.com, Qorvo presently has an average rating of "Hold" and a consensus target price of $95.84.

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.