South Dakota Investment Council Sells 4,200 Shares of Qorvo, Inc. (NASDAQ:QRVO)

South Dakota Investment Council lowered its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 72.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,600 shares of the semiconductor company’s stock after selling 4,200 shares during the quarter. South Dakota Investment Council’s holdings in Qorvo were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Highland Capital Management LLC lifted its holdings in shares of Qorvo by 48.9% in the 4th quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock worth $4,819,000 after acquiring an additional 14,060 shares during the last quarter. SG Americas Securities LLC increased its stake in Qorvo by 298.9% in the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock worth $2,005,000 after buying an additional 13,340 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Qorvo by 4.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,464 shares of the semiconductor company’s stock worth $808,000 after buying an additional 394 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in Qorvo in the 3rd quarter worth about $389,000. Finally, FMR LLC increased its stake in Qorvo by 7.6% in the 3rd quarter. FMR LLC now owns 680,516 shares of the semiconductor company’s stock worth $64,969,000 after buying an additional 48,125 shares during the period. Institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on QRVO shares. Piper Sandler cut their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Craig Hallum lifted their target price on shares of Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. lifted their target price on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. The Goldman Sachs Group lifted their price objective on shares of Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Finally, Raymond James lifted their price objective on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average target price of $111.53.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 354 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares of the company’s stock, valued at $2,102,388. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now directly owns 18,442 shares in the company, valued at approximately $2,102,388. The disclosure for this sale can be found here. Insiders sold a total of 6,381 shares of company stock valued at $745,434 over the last 90 days. 0.43% of the stock is owned by company insiders.

Qorvo Stock Up 2.3 %

Qorvo stock opened at $114.70 on Friday. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65. The company has a 50-day moving average price of $113.50 and a 200 day moving average price of $104.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.47. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. Qorvo had a negative net margin of 6.11% and a positive return on equity of 10.41%. As a group, analysts expect that Qorvo, Inc. will post 4.95 EPS for the current fiscal year.

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.