State of Alaska Department of Revenue Buys 3,914 Shares of Qorvo, Inc. $QRVO

Key Points

• The State of Alaska Department of Revenue increased its holdings in Qorvo, Inc. by 7.6%, acquiring an additional 3,914 shares, bringing its total to 55,665 shares valued at approximately $4.7 million.
• Qorvo recently achieved an EPS of $0.92 for the last quarter, surpassing analysts' expectations of $0.62, with quarterly revenue of $818.8 million.
• Analysts have mixed ratings for Qorvo, with a consensus of "Hold" and an average target price of $95.35, while recent analyst reports have set price targets ranging from $84.00 to $100.00.

State of Alaska Department of Revenue lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,665 shares of the semiconductor company's stock after acquiring an additional 3,914 shares during the period. State of Alaska Department of Revenue owned 0.06% of Qorvo worth $4,725,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Qorvo by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,974 shares of the semiconductor company's stock valued at $2,630,000 after acquiring an additional 203 shares during the last quarter. Norden Group LLC bought a new position in shares of Qorvo in the 2nd quarter valued at about $205,000. GAMMA Investing LLC lifted its holdings in shares of Qorvo by 13.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,162 shares of the semiconductor company's stock valued at $353,000 after acquiring an additional 497 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Qorvo by 82.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 763,654 shares of the semiconductor company's stock valued at $64,842,000 after acquiring an additional 345,929 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Qorvo by 1.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,679 shares of the semiconductor company's stock valued at $682,000 after acquiring an additional 118 shares during the last quarter. Institutional investors own 88.57% of the company's stock.

Analysts Set New Price Targets

QRVO has been the subject of a number of analyst reports. UBS Group set a $100.00 price target on shares of Qorvo and gave the company a "neutral" rating in a report on Wednesday, July 30th. Craig Hallum reissued a "buy" rating on shares of Qorvo in a research note on Wednesday, July 30th. Mizuho set a $84.00 price objective on shares of Qorvo and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Stifel Nicolaus set a $88.00 price objective on shares of Qorvo and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Qorvo from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Qorvo has a consensus rating of "Hold" and an average target price of $95.35.

Qorvo Stock Performance

Shares of NASDAQ:QRVO opened at $90.46 on Tuesday. The firm has a market cap of $8.38 billion, a PE ratio of 106.42, a price-to-earnings-growth ratio of 1.81 and a beta of 1.39. The firm's 50 day simple moving average is $89.28 and its 200-day simple moving average is $79.60. Qorvo, Inc. has a one year low of $49.46 and a one year high of $107.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.30. The business had revenue of $818.80 million for the quarter, compared to analyst estimates of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The company's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, equities analysts predict that Qorvo, Inc. will post 4.09 EPS for the current year.

Insider Transactions at Qorvo

In related news, SVP Paul J. Fego sold 13,612 shares of Qorvo stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $95.00, for a total transaction of $1,293,140.00. Following the transaction, the senior vice president directly owned 54,558 shares of the company's stock, valued at $5,183,010. This trade represents a 19.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by insiders.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.

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