Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in Qorvo, Inc. $QRVO

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 44,200 shares of the semiconductor company’s stock, valued at approximately $3,421,000.

A number of other hedge funds have also added to or reduced their stakes in QRVO. Smartleaf Asset Management LLC increased its position in shares of Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 231 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Qorvo by 952.8% in the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 343 shares during the period. Advisory Services Network LLC bought a new position in Qorvo in the third quarter worth approximately $36,000. V Square Quantitative Management LLC bought a new position in Qorvo in the fourth quarter worth approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in Qorvo by 60.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 180 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Up 1.4%

NASDAQ:QRVO opened at $90.74 on Friday. The company’s 50-day simple moving average is $94.20 and its 200-day simple moving average is $86.77. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.46 and a current ratio of 3.54. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The stock has a market capitalization of $8.01 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.41 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The company had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. Qorvo’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities analysts anticipate that Qorvo, Inc. will post 5.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QRVO has been the subject of a number of research analyst reports. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Zacks Research downgraded Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and an average price target of $94.00.

Trending Headlines about Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Strong quarterly results: Qorvo reported adjusted earnings of $1.64 per share, well above the $1.11 consensus estimate, while revenue of $784.8 million also exceeded expectations of $743.3 million. High-Performance Analog growth and cost controls helped strengthen margins despite weaker smartphone-related sales. Qorvo Beats Q1 Earnings Estimates Despite Lower Year-over-Year Revenues
• Positive Sentiment: Potentially attractive earnings valuation: Commentary suggests Qorvo’s earnings multiple remains reasonable, particularly after the quarterly beat and stronger profit margins. The company also raised its longer-term earnings outlook, supporting the bullish case. Qorvo Stock Looks Near Fair Value While Earnings Look Cheap
• Neutral Sentiment: Skyworks merger changes the investment thesis: Investors are increasingly evaluating Qorvo as a merger situation rather than solely as a standalone semiconductor company. The deal could create strategic and cost benefits, but the eventual value depends on closing and integration execution. Qorvo A Great Quarter But You Are Buying a Merger Now
• Neutral Sentiment: Analyst views remain mixed: UBS raised its price target to $96 and maintained Hold, while Citigroup reduced its target to $95 and kept a Neutral rating. Susquehanna also reiterated Hold with an $80 target, citing valuation concerns despite the solid results. UBS Maintains Hold and Raises Qorvo Price Target
• Negative Sentiment: Sales remain under pressure: Revenue declined 4.2% year over year, with smartphone-related weakness limiting the impact of the earnings beat. Investors may also remain cautious because analysts are largely waiting for the Skyworks transaction to close before reassessing the combined company. Skyworks Reports Stable Quarter as Analysts Await Qorvo Deal

Insiders Place Their Bets

In other news, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president owned 71,038 shares in the company, valued at approximately $7,103,800. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the sale, the vice president owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. This represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,966,127 shares of company stock valued at $198,911,103. Company insiders own 0.49% of the company’s stock.

Qorvo Company 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.