Maryland State Retirement & Pension System Sells 15,306 Shares of Qorvo, Inc. $QRVO

Maryland State Retirement & Pension System cut its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 48.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,544 shares of the semiconductor company’s stock after selling 15,306 shares during the period. Maryland State Retirement & Pension System’s holdings in Qorvo were worth $1,507,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QRVO. Norges Bank bought a new position in shares of Qorvo during the 2nd quarter valued at approximately $153,994,000. LSV Asset Management increased its position in Qorvo by 118.0% in the second quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company’s stock worth $117,428,000 after purchasing an additional 748,589 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Qorvo by 63.6% during the second quarter. Rafferty Asset Management LLC now owns 1,214,482 shares of the semiconductor company’s stock valued at $103,122,000 after purchasing an additional 472,211 shares in the last quarter. Dorsal Capital Management LP bought a new position in Qorvo during the second quarter valued at $34,389,000. Finally, Bank of America Corp DE grew its stake in shares of Qorvo by 20.2% in the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock worth $128,975,000 after buying an additional 255,068 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Down 0.3%

QRVO opened at $79.85 on Wednesday. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 1.50 and a beta of 1.36. The stock’s 50 day moving average price is $84.93 and its 200-day moving average price is $88.01. Qorvo, Inc. has a one year low of $49.46 and a one year high of $106.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.20 and a current ratio of 2.95.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.19. The firm had revenue of $1.06 billion during the quarter. Qorvo had a return on equity of 13.30% and a net margin of 5.95%.Qorvo’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 earnings per share. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. On average, equities analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current year.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several recent research reports. Cfra restated a “hold” rating and set a $122.00 target price on shares of Qorvo in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised Qorvo from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $92.00 to $105.00 in a research note on Tuesday, November 4th. Cfra Research upgraded Qorvo to a “hold” rating in a research report on Tuesday, October 28th. Citigroup upgraded Qorvo from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $70.00 to $105.00 in a report on Tuesday, October 28th. Finally, UBS Group decreased their price target on Qorvo from $108.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and a consensus target price of $100.07.

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.