Qorvo, Inc. $QRVO Stock Holdings Boosted by California State Teachers Retirement System

California State Teachers Retirement System lifted its position in Qorvo, Inc. (NASDAQ:QRVO) by 21.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,540 shares of the semiconductor company’s stock after buying an additional 18,029 shares during the period. California State Teachers Retirement System’s holdings in Qorvo were worth $7,859,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of QRVO. Smartleaf Asset Management LLC boosted its stake in Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 231 shares in the last quarter. Sound Income Strategies LLC raised 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 acquiring an additional 343 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Qorvo in the 3rd quarter valued at about $36,000. V Square Quantitative Management LLC bought a new position in shares of Qorvo during the 4th quarter valued at about $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Qorvo by 60.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO stock opened at $95.04 on Wednesday. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.41 and a beta of 1.44. Qorvo, Inc. has a 1-year low of $74.92 and a 1-year high of $109.49. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $93.28 and its 200-day simple moving average is $87.00.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (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 earned $0.92 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts predict that Qorvo, Inc. will post 5.81 earnings per share for the current fiscal year.

Insider Activity at Qorvo

In other news, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction that occurred on Friday, May 22nd. 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 directly owned 71,038 shares of the company’s stock, valued at $7,103,800. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the sale, the chief executive officer owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. This represents a 15.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,966,127 shares of company stock valued at $198,911,103 over the last ninety days. 0.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QRVO has been the topic of a number of research reports. TD Cowen reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. JPMorgan Chase & Co. increased their price objective on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Mizuho reissued an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.00.

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.