Public Employees Retirement System of Ohio Buys New Position in Qorvo, Inc. $QRVO

Public Employees Retirement System of Ohio bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, Holdings Channel reports. The fund bought 26,067 shares of the semiconductor company’s stock, valued at approximately $2,431,000.

Several other institutional investors have also recently added to or reduced their stakes in QRVO. Bank of America Corp DE increased its stake in shares of Qorvo by 801.4% in the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after acquiring an additional 1,571,303 shares in the last quarter. LSV Asset Management boosted its stake in Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after acquiring an additional 34,605 shares in the last quarter. Amundi grew its holdings in Qorvo by 197.2% in the first quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock worth $59,780,000 after purchasing an additional 512,475 shares during the period. Fieldview Capital Management LLC increased its stake in Qorvo by 570.1% in the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock valued at $2,058,000 after purchasing an additional 20,718 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Qorvo in the second quarter valued at $1,866,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Price Performance

QRVO stock opened at $102.84 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. The business has a 50-day simple moving average of $92.09 and a two-hundred day simple moving average of $89.47. The company has a market capitalization of $9.07 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.81 and a beta of 1.45. Qorvo, Inc. has a 52-week low of $74.92 and a 52-week high of $109.49.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm had revenue of $784.79 million during the quarter, compared to the consensus estimate of $743.28 million. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts expect that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on QRVO shares. TD Cowen reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. UBS Group increased their target price on Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Citigroup reduced their price target on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average price target of $94.00.

Insiders Place Their Bets

In other news, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the senior vice president owned 76,960 shares in the company, valued at $7,696,000. This represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Grant Brown sold 5,179 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $504,952.50. Following the completion of the sale, the chief financial officer owned 49,268 shares of the company’s stock, valued at approximately $4,803,630. This represents a 9.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,999 shares of company stock worth $5,458,714 in the last three months. 0.49% of the stock is owned by corporate insiders.

Qorvo News Summary

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations: earnings per share came in at $1.64 versus the $1.11 consensus estimate, while revenue of roughly $784.8 million surpassed forecasts of $743.3 million. The earnings beat provides support for the stock, although revenue declined 4.2% year over year.
• Positive Sentiment: Institutional ownership remains high at approximately 88.6%, with major investors including BlackRock, California State Teachers’ Retirement System and Bank of America reportedly adding or initiating sizable positions. Such buying can reinforce investor confidence and provide demand for QRVO shares.
• Positive Sentiment: Qorvo’s exposure to radio-frequency solutions for drones, satellite communications and industrial IoT may offer longer-term growth opportunities in bandwidth, connectivity and power-efficiency markets.
• Neutral Sentiment: Brokerages maintain an average “Hold” recommendation, with three Buy ratings, fourteen Holds and one Sell. The average price target is $94, below recent trading levels, suggesting analysts see limited near-term upside despite the earnings beat. Qorvo Given Average Recommendation of Hold
• Neutral Sentiment: Skyworks Solutions’ extension of exchange offers for Qorvo notes keeps the companies’ merger plans in focus. The potential transaction could be a catalyst, but the extension also leaves timing, financing and completion risks unresolved.
• Negative Sentiment: Several executives recently sold shares. CEO Robert Bruggeworth sold 28,744 shares for approximately $2.9 million, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. The combined sales total roughly $4.4 million and could weigh on sentiment, though they may reflect routine diversification rather than a change in business outlook. Qorvo Insider Selling

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.