Qorvo, Inc. $QRVO Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 408,848 shares of the semiconductor company’s stock after purchasing an additional 9,352 shares during the quarter. Principal Financial Group Inc. owned approximately 0.44% of Qorvo worth $31,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares during the period. Sound Income Strategies LLC increased its position in Qorvo by 952.8% in the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after buying an additional 343 shares during the period. Advisory Services Network LLC bought a new stake in Qorvo in the third quarter valued at $36,000. V Square Quantitative Management LLC bought a new stake in Qorvo in the fourth quarter valued at $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 180 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 4,714 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the sale, the vice president owned 24,429 shares of the company’s stock, valued at $2,442,900. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 71,038 shares of the company’s stock, valued at $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,966,127 shares of company stock valued at $198,911,103. 0.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

QRVO has been the subject of several recent research reports. Craig Hallum restated a “buy” rating and set a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Wolfe Research lowered shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Finally, Mizuho reaffirmed an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Qorvo has an average rating of “Hold” and a consensus price target of $97.07.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $85.50 on Monday. The stock has a market cap of $7.54 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.34 and a beta of 1.44. The firm’s 50-day simple moving average is $95.07 and its 200 day simple moving average is $86.51. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The firm had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. Qorvo’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts expect that Qorvo, Inc. will post 5.83 EPS for the current year.

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.