California State Teachers Retirement System Buys 9,106,821 Shares of Qorvo, Inc. $QRVO

Key Points

• California State Teachers Retirement System dramatically increased its Qorvo stake by purchasing 9.1 million additional shares, bringing its holdings to 9.2 million shares, or approximately 10.44% of the company. Institutional investors collectively own 88.57% of Qorvo.
• Qorvo’s latest quarterly results exceeded expectations, with earnings of $1.64 per share versus the $1.11 consensus estimate and revenue of $784.8 million versus $743.3 million expected. However, revenue declined 4.2% year over year.
• Investor sentiment has been supported by optimism that Qorvo’s proposed approximately $22 billion merger with Skyworks Solutions could close by year-end, though analysts remain cautious: the stock carries a consensus “Hold” rating and a $94 target price, below its recent trading level.

California State Teachers Retirement System increased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 8,968.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,208,361 shares of the semiconductor company's stock after acquiring an additional 9,106,821 shares during the quarter. California State Teachers Retirement System owned about 10.44% of Qorvo worth $858,864,000 at the end of the most recent quarter.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in Qorvo during the second quarter valued at approximately $43,000. Wedmont Private Capital increased its stake in shares of Qorvo by 1.6% in the second quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company's stock worth $879,000 after purchasing an additional 162 shares in the last quarter. Nykredit A S purchased a new stake in shares of Qorvo in the second quarter worth $296,000. F&V Capital Management LLC increased its stake in shares of Qorvo by 3.9% in the second quarter. F&V Capital Management LLC now owns 160,315 shares of the semiconductor company's stock worth $14,953,000 after purchasing an additional 5,975 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Qorvo during the 2nd quarter valued at $640,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

Shares of QRVO stock opened at $116.65 on Monday. The stock has a market cap of $10.29 billion, a P/E ratio of 27.07, a PEG ratio of 2.02 and a beta of 1.45. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $120.52. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45. The company's fifty day simple moving average is $93.86 and its two-hundred day simple moving average is $90.40.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $743.28 million. During the same quarter last year, the business posted $0.92 earnings per share. The business'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. Analysts predict that Qorvo, Inc. will post 6.41 EPS for the current fiscal year.

Insider Activity at Qorvo

In other news, SVP Steven E. Creviston sold 4,810 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total transaction of $485,184.70. Following the sale, the senior vice president directly owned 119,451 shares of the company's stock, valued at $12,049,022.37. This represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Philip Chesley sold 5,487 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.50, for a total value of $534,982.50. Following the transaction, the senior vice president owned 44,021 shares of the company's stock, valued at $4,292,047.50. This represents a 11.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,999 shares of company stock valued at $5,458,714 in the last 90 days. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QRVO. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Sunday, August 2nd. TD Cowen reiterated a "hold" rating on shares of Qorvo in a research note on Wednesday, July 29th. Citigroup decreased their price target on Qorvo from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a research report on Friday, July 24th. Finally, UBS Group upped their price objective on Qorvo from $91.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Qorvo currently has an average rating of "Hold" and a consensus target price of $94.00.

Qorvo News Summary

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Skyworks CEO Phil Brace said the approximately $22 billion merger with Qorvo has entered its final stages and is expected to close by year-end. The comments reduced perceived regulatory and execution risk and helped drive renewed buying in Qorvo. Skyworks Solutions Stock Eyes Best Weekly Rally Since 2009
• Positive Sentiment: Reports indicated that Qorvo gained alongside Skyworks after the merger update, suggesting investors are assigning a higher probability to the transaction’s completion and potential strategic benefits from combining the two chipmakers. Skyworks Rises as Qorvo Merger Nears Completion
• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations, with earnings of $1.64 per share versus a $1.11 consensus estimate and revenue of $784.8 million versus $743.3 million expected. The earnings beat reinforces the company’s operating momentum, although year-over-year revenue declined. Qorvo Stock Surges Past 52-Week High
• Neutral Sentiment: Qorvo reached a new one-year high, increasing the possibility of profit-taking after the recent rally. Trading volume was also elevated, indicating strong investor attention but potentially greater short-term volatility.
• Negative Sentiment: Some analysts remain cautious, with a reported price target near $94—well below the current trading range. Options activity also reportedly points to a possible pullback, creating downside risk if merger optimism fades. Skyworks Stock Hits a New 52-Week High

Qorvo Profile

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.

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