Oregon Public Employees Retirement Fund Grows Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Oregon Public Employees Retirement Fund raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 173.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,200 shares of the semiconductor company’s stock after buying an additional 14,096 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Qorvo were worth $1,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of QRVO. Creative Planning boosted its position in shares of Qorvo by 14.4% during 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 period. International Assets Investment Management LLC boosted its position in shares of Qorvo by 10,229.8% during the third quarter. International Assets Investment Management LLC now owns 10,743 shares of the semiconductor company’s stock worth $1,110,000 after buying an additional 10,639 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Qorvo by 12.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,552 shares of the semiconductor company’s stock worth $470,000 after buying an additional 501 shares during the period. abrdn plc boosted its holdings in Qorvo by 17.1% in the third quarter. abrdn plc now owns 48,414 shares of the semiconductor company’s stock valued at $4,965,000 after purchasing an additional 7,054 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in Qorvo by 6.6% in the third 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 during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Barclays decreased their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Mizuho lifted their target price on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Citigroup decreased their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $95.84.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Qorvo Stock Up 2.4 %

QRVO opened at $72.69 on Friday. The business’s 50-day simple moving average is $77.04 and its 200-day simple moving average is $86.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a one year low of $64.54 and a one year high of $130.99. The stock has a market capitalization of $6.79 billion, a P/E ratio of 259.61, a price-to-earnings-growth ratio of 15.57 and a beta of 1.41.

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.