New York State Teachers Retirement System Has $6.01 Million Stock Holdings in Qorvo, Inc. $QRVO

New York State Teachers Retirement System trimmed its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,640 shares of the semiconductor company’s stock after selling 7,423 shares during the period. New York State Teachers Retirement System’s holdings in Qorvo were worth $6,009,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in QRVO. Jain Global LLC increased its position in shares of Qorvo by 71.6% during the third quarter. Jain Global LLC now owns 277,219 shares of the semiconductor company’s stock valued at $25,249,000 after purchasing an additional 115,640 shares during the period. JPMorgan Chase & Co. lifted its position in Qorvo by 58.7% in the third quarter. JPMorgan Chase & Co. now owns 313,156 shares of the semiconductor company’s stock worth $28,522,000 after purchasing an additional 115,890 shares during the period. SG Americas Securities LLC boosted its stake in Qorvo by 2,687.9% during the fourth quarter. SG Americas Securities LLC now owns 234,464 shares of the semiconductor company’s stock worth $19,815,000 after buying an additional 226,054 shares in the last quarter. LSV Asset Management increased its holdings in Qorvo by 2.3% in the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after buying an additional 34,605 shares during the period. Finally, M&T Bank Corp increased its holdings in Qorvo by 3,397.3% in the 4th quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock valued at $12,691,000 after buying an additional 145,879 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insiders Place Their Bets

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of Qorvo stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the transaction, the director owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total value of $5,818,882.80. Following the completion of the transaction, the chief executive officer directly owned 319,880 shares in the company, valued at approximately $32,115,952. This represents a 15.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,966,127 shares of company stock valued at $198,911,103 over the last quarter. 0.49% of the stock is owned by insiders.

Qorvo Trading Down 2.3%

Shares of Qorvo stock opened at $85.13 on Wednesday. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. The stock has a market capitalization of $7.51 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.44. The company has a 50-day simple moving average of $95.90 and a 200 day simple moving average of $86.57. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The firm had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts expect that Qorvo, Inc. will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on QRVO shares. JPMorgan Chase & Co. raised their price objective on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. UBS Group upped their target price on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. Zacks Research downgraded Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $96.62.

Qorvo 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.