New York State Teachers Retirement System Cuts Stock Position in Qorvo, Inc. $QRVO

New York State Teachers Retirement System lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 95,105 shares of the semiconductor company’s stock after selling 179 shares during the quarter. New York State Teachers Retirement System’s holdings in Qorvo were worth $8,075,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Qorvo by 1.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,679 shares of the semiconductor company’s stock worth $682,000 after acquiring an additional 118 shares in the last quarter. Signaturefd LLC boosted its holdings in Qorvo by 34.6% in the first quarter. Signaturefd LLC now owns 662 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 170 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Qorvo by 6.9% in the second quarter. HB Wealth Management LLC now owns 2,955 shares of the semiconductor company’s stock worth $251,000 after acquiring an additional 190 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Qorvo by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 30,974 shares of the semiconductor company’s stock worth $2,630,000 after acquiring an additional 203 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in Qorvo by 0.7% in the second quarter. Maryland State Retirement & Pension System now owns 31,850 shares of the semiconductor company’s stock worth $2,704,000 after acquiring an additional 232 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Price Performance

NASDAQ:QRVO opened at $92.13 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. The company has a 50 day moving average price of $90.52 and a 200-day moving average price of $81.38. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $105.39. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 108.39, a price-to-earnings-growth ratio of 1.80 and a beta of 1.42.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.30. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The firm had revenue of $818.80 million for the quarter, compared to the consensus estimate of $775.61 million. During the same period in the prior year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Equities research analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current year.

Insider Activity at Qorvo

In other news, SVP Paul J. Fego sold 13,612 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $95.00, for a total transaction of $1,293,140.00. Following the sale, the senior vice president directly owned 54,558 shares in the company, valued at $5,183,010. This trade represents a 19.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on QRVO shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Qorvo in a report on Wednesday, October 8th. Benchmark lifted their target price on Qorvo from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Susquehanna reaffirmed a “neutral” rating and set a $95.00 target price (up previously from $90.00) on shares of Qorvo in a report on Wednesday, July 30th. Needham & Company LLC lifted their target price on Qorvo from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Stifel Nicolaus set a $88.00 target price on Qorvo and gave the stock a “hold” rating in a report on Wednesday, July 30th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average target price of $95.35.

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.