Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 579.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,327 shares of the semiconductor company’s stock after acquiring an additional 31,833 shares during the period. Maryland State Retirement & Pension System’s holdings in Qorvo were worth $2,610,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd acquired a new position in Qorvo in the fourth quarter valued at approximately $1,177,000. Janney Montgomery Scott LLC lifted its holdings in Qorvo by 245.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock valued at $1,024,000 after acquiring an additional 10,405 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Qorvo in the third quarter valued at approximately $2,507,000. Virtu Financial LLC acquired a new position in Qorvo in the third quarter valued at approximately $1,211,000. Finally, Paloma Partners Management Co purchased a new stake in Qorvo in the third quarter valued at approximately $5,165,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Stock Performance

Shares of QRVO stock opened at $72.36 on Friday. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $77.14 and a 200 day moving average price of $82.11. The company has a market cap of $6.76 billion, a P/E ratio of 258.43, a PEG ratio of 15.57 and a beta of 1.48. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99.

Analyst Upgrades and Downgrades

QRVO has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Citigroup cut their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Mizuho boosted their target price on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.84.

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.