New York State Teachers Retirement System Sells 7,642 Shares of Qorvo, Inc. $QRVO

New York State Teachers Retirement System lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,463 shares of the semiconductor company’s stock after selling 7,642 shares during the period. New York State Teachers Retirement System owned 0.09% of Qorvo worth $7,966,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of QRVO. Twin Peaks Wealth Advisors LLC bought a new position in Qorvo during the second quarter valued at $25,000. Nisa Investment Advisors LLC purchased a new position in shares of Qorvo during the 3rd quarter valued at $25,000. Salomon & Ludwin LLC bought a new position in shares of Qorvo during the 3rd quarter worth $34,000. True Wealth Design LLC increased its holdings in Qorvo by 560.3% in the 3rd quarter. True Wealth Design LLC now owns 416 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 353 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Qorvo by 166.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 485 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 303 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QRVO. UBS Group increased their target price on shares of Qorvo from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Citigroup upgraded shares of Qorvo from a “sell” rating to a “neutral” rating and upped their price target for the company from $70.00 to $105.00 in a research note on Tuesday, October 28th. Morgan Stanley set a $110.00 price objective on shares of Qorvo and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Argus raised shares of Qorvo to a “hold” rating in a report on Wednesday, November 5th. Finally, Cfra reaffirmed a “hold” rating and issued a $122.00 price target on shares of Qorvo in a report on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.47.

Qorvo Stock Performance

Qorvo stock opened at $80.64 on Friday. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $106.30. The company has a current ratio of 2.95, a quick ratio of 2.20 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $7.45 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 1.52 and a beta of 1.36. The firm’s 50 day simple moving average is $85.32 and its 200 day simple moving average is $88.10.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.19. The firm had revenue of $1.06 billion during the quarter. Qorvo had a net margin of 5.95% and a return on equity of 13.30%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. As a group, analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal 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.