Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 470 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,180 shares of the semiconductor company’s stock after selling 470 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Qorvo were worth $1,411,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of Qorvo during the 4th quarter worth about $28,000. Larson Financial Group LLC increased its holdings in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after buying an additional 201 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Qorvo in the fourth quarter valued at approximately $37,000. Versant Capital Management Inc raised its stake in shares of Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 286 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO stock opened at $75.63 on Wednesday. The stock has a market cap of $7.06 billion, a PE ratio of 270.11, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The stock has a 50-day moving average of $77.22 and a 200-day moving average of $80.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99.

Wall Street Analysts Forecast Growth

QRVO has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Stifel Nicolaus reduced their price target on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $110.00 in a research report on Monday, January 27th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average 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.