Public Employees Retirement System of Ohio Makes New Investment in Qorvo, Inc. $QRVO

Public Employees Retirement System of Ohio bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 26,067 shares of the semiconductor company’s stock, valued at approximately $2,431,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its position in shares of Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Qorvo during the second quarter worth about $32,000. Advisory Services Network LLC acquired a new position in Qorvo during the third quarter worth about $36,000. Elevation Wealth Partners LLC boosted its stake in shares of Qorvo by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 310 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings 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 during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 2.5%

Shares of NASDAQ:QRVO opened at $102.84 on Friday. The firm has a market cap of $9.07 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.81 and a beta of 1.45. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. The business has a fifty day simple moving average of $92.09 and a 200 day simple moving average of $89.47. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts predict that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

More Qorvo News

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

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Frank Stewart sold 8,279 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.72, for a total transaction of $784,186.88. Following the completion of the sale, the senior vice president owned 43,069 shares of the company’s stock, valued at approximately $4,079,495.68. This represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Paul Fego sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the senior vice president owned 76,960 shares of the company’s stock, valued at approximately $7,696,000. The trade was a 3.15% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,999 shares of company stock worth $5,458,714. Company insiders own 0.49% of the company’s stock.

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.