VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.95 Million Investment in Qorvo, Inc. $QRVO

Key Points

• The Virginia Retirement Systems acquired a new position in Qorvo, Inc. with an investment of approximately $1.95 million, purchasing 23,000 shares during the second quarter.
• Qorvo's stock has shown a 12-month high of $101.76 and a low of $49.46, reflecting significant price fluctuations in the past year.
• Recent analyst upgrades have led to increased price targets, with Barclays setting a target of $90 per share and Piper Sandler raising it to $125 per share, highlighting a mixed outlook among analysts.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 23,000 shares of the semiconductor company's stock, valued at approximately $1,953,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its position in Qorvo by 1.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,679 shares of the semiconductor company's stock worth $682,000 after purchasing an additional 118 shares during the last quarter. Signaturefd LLC boosted its position in Qorvo by 34.6% in the first quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 170 shares during the last quarter. HB Wealth Management LLC boosted its position in Qorvo by 6.9% in the second quarter. HB Wealth Management LLC now owns 2,955 shares of the semiconductor company's stock worth $251,000 after purchasing an additional 190 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Qorvo by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 30,974 shares of the semiconductor company's stock worth $2,630,000 after purchasing an additional 203 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in Qorvo by 0.7% in the second quarter. Maryland State Retirement & Pension System now owns 31,850 shares of the semiconductor company's stock worth $2,704,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 13,612 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $1,293,140.00. Following the transaction, the senior vice president directly owned 54,558 shares in the company, valued at $5,183,010. This represents a 19.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $93.49 on Wednesday. The firm has a market capitalization of $8.66 billion, a P/E ratio of 109.99, a P/E/G ratio of 1.82 and a beta of 1.42. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45. The stock's 50-day simple moving average is $90.72 and its two-hundred day simple moving average is $81.72. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $101.76.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share 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 return on equity of 12.63% and a net margin of 2.21%.The company's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, equities analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on QRVO. Barclays upped their price target on Qorvo from $70.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $88.00 price target on Qorvo and gave the company a "hold" rating in a research report on Wednesday, July 30th. Craig Hallum reaffirmed a "buy" rating on shares of Qorvo in a research report on Wednesday, July 30th. Piper Sandler upped their price target on Qorvo from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, TD Cowen upped their price target on Qorvo from $80.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $94.82.

Qorvo 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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