New York State Teachers Retirement System Acquires 12,091 Shares of Qorvo, Inc. (NASDAQ:QRVO)

New York State Teachers Retirement System boosted its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,784 shares of the semiconductor company's stock after acquiring an additional 12,091 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Qorvo worth $6,978,000 at the end of the most recent quarter.

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

Qorvo Price Performance

Shares of NASDAQ QRVO traded down $1.03 during mid-day trading on Friday, reaching $76.07. 1,957,639 shares of the company were exchanged, compared to its average volume of 2,492,384. Qorvo, Inc. has a 52 week low of $64.54 and a 52 week high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $7.10 billion, a PE ratio of 271.68, a PEG ratio of 15.57 and a beta of 1.41. The company's 50 day moving average price is $76.69 and its 200 day moving average price is $87.15.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America dropped their target price on shares of Qorvo from $115.00 to $80.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their price target on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Citigroup decreased their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research note on Wednesday, January 29th. Susquehanna decreased their price target on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Finally, Raymond James lowered shares of Qorvo from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $95.84.

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president now directly owns 30,261 shares of the company's stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Qorvo 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.