Louisiana State Employees Retirement System Acquires New Holdings in Qorvo, Inc. $QRVO

Louisiana State Employees Retirement System acquired a new position in Qorvo, Inc. (NASDAQ:QRVO) during the first quarter, HoldingsChannel.com reports. The fund acquired 37,400 shares of the semiconductor company’s stock, valued at approximately $2,895,000.

Several other large investors have also recently modified their holdings of QRVO. Jones Financial Companies Lllp grew its holdings in Qorvo by 440.1% in the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock worth $589,000 after purchasing an additional 6,628 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Qorvo by 158.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 1,301 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Qorvo by 56.5% during the 2nd quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock valued at $12,100,000 after purchasing an additional 51,475 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Qorvo in the 2nd quarter worth $428,000. Finally, Cerity Partners LLC acquired a new stake in shares of Qorvo in the 2nd quarter worth $327,000. Institutional investors own 88.57% of the company’s stock.

Insider Transactions at Qorvo

In related news, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the sale, the chief executive officer owned 319,880 shares of the company’s stock, valued at $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gina Harrison sold 4,714 shares of Qorvo stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $471,400.00. Following the sale, the vice president directly owned 24,429 shares of the company’s stock, valued at $2,442,900. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,966,127 shares of company stock worth $198,911,103 in the last ninety days. 0.41% of the stock is owned by company insiders.

Qorvo Price Performance

QRVO opened at $93.88 on Monday. The company has a fifty day moving average of $95.13 and a two-hundred day moving average of $86.51. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.47 and a beta of 1.43. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wolfe Research lowered Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. UBS Group lifted their target price on shares of Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Finally, Mizuho restated an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Qorvo presently has an average rating of “Hold” and an average price target of $96.62.

About Qorvo

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.