Qorvo, Inc. $QRVO Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in Qorvo, Inc. (NASDAQ:QRVO) by 47.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,860 shares of the semiconductor company’s stock after selling 11,840 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Qorvo were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sage Rhino Capital LLC raised its position in shares of Qorvo by 4.4% during the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock worth $342,000 after purchasing an additional 160 shares during the period. Fred Alger Management LLC raised its position in shares of Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 160 shares during the period. Beacon Investment Advisory Services Inc. raised its position in shares of Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 161 shares during the period. NorthCrest Asset Manangement LLC raised its position in shares of Qorvo by 0.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 62,938 shares of the semiconductor company’s stock worth $5,479,000 after purchasing an additional 194 shares during the period. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Qorvo by 54.4% in the fourth quarter. Salomon & Ludwin LLC now owns 559 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Up 2.0%

NASDAQ QRVO opened at $92.25 on Friday. Qorvo, Inc. has a 1-year low of $73.00 and a 1-year high of $106.30. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $8.12 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The firm’s fifty day simple moving average is $82.43 and its 200-day simple moving average is $83.93.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business had revenue of $808.28 million for the quarter, compared to the consensus estimate of $801.31 million. During the same period in the prior year, the business posted $1.42 earnings per share. Qorvo’s revenue for the quarter was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 5.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QRVO. Susquehanna reduced their target price on Qorvo from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Wolfe Research lowered Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Stifel Nicolaus reduced their target price on Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. Finally, TD Cowen reduced their target price on Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $96.63.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.