Qorvo, Inc. $QRVO Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 408,848 shares of the semiconductor company’s stock after acquiring an additional 9,352 shares during the period. Principal Financial Group Inc.’s holdings in Qorvo were worth $31,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in shares of Qorvo by 440.1% in the 1st 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 boosted its holdings in 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 buying an additional 1,301 shares in the last quarter. First Trust Advisors LP boosted its holdings in Qorvo by 56.5% during the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock worth $12,100,000 after buying an additional 51,475 shares in the last quarter. Marshall Wace LLP bought a new stake in Qorvo during the second quarter worth approximately $428,000. Finally, Cerity Partners LLC acquired a new position in Qorvo in the second quarter worth approximately $327,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $85.50 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The company has a market cap of $7.54 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.44. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The firm has a 50 day simple moving average of $95.07 and a 200 day simple moving average of $86.51.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.48. The firm had revenue of $808.28 million for 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, research analysts expect that Qorvo, Inc. will post 5.83 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on QRVO. Citigroup upped their price target on Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. UBS Group boosted their target price on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and a consensus price target of $97.07.

Insiders Place Their Bets

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Paul J. Fego sold 2,500 shares of Qorvo stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the senior vice president directly owned 71,038 shares in the company, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,966,127 shares of company stock valued at $198,911,103 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

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.