State of Alaska Department of Revenue Reduces Holdings in Qorvo, Inc. $QRVO

State of Alaska Department of Revenue reduced its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 23.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,426 shares of the semiconductor company’s stock after selling 13,239 shares during the period. State of Alaska Department of Revenue’s holdings in Qorvo were worth $3,864,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in shares of Qorvo by 440.1% during the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after acquiring an additional 6,628 shares during the period. Voya Investment Management LLC lifted its position in Qorvo by 19.0% during the first quarter. Voya Investment Management LLC now owns 18,725 shares of the semiconductor company’s stock valued at $1,356,000 after purchasing an additional 2,990 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Qorvo by 166.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 485 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 303 shares during the period. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Qorvo in the second quarter worth about $295,000. Finally, Baader Bank Aktiengesellschaft raised its stake in shares of Qorvo by 72.7% in the second quarter. Baader Bank Aktiengesellschaft now owns 5,258 shares of the semiconductor company’s stock worth $446,000 after buying an additional 2,213 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on QRVO. Argus upgraded Qorvo to a “hold” rating in a research note on Wednesday, November 5th. Mizuho set a $85.00 price target on shares of Qorvo in a research report on Friday. Morgan Stanley set a $110.00 price objective on shares of Qorvo and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Citigroup upgraded shares of Qorvo from a “sell” rating to a “neutral” rating and lifted their target price for the company from $70.00 to $105.00 in a research note on Tuesday, October 28th. Finally, UBS Group increased their price target on Qorvo from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and an average price target of $101.47.

Qorvo Stock Performance

QRVO opened at $81.78 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.20 and a current ratio of 2.95. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.48 and a beta of 1.36. The company has a fifty day moving average of $86.01 and a 200 day moving average of $88.23. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $106.30.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Monday, November 3rd. The semiconductor company reported $2.22 EPS for the quarter, beating the consensus estimate of $2.03 by $0.19. The business had revenue of $1.06 billion during the quarter. Qorvo had a net margin of 5.95% and a return on equity of 13.30%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. As a group, sell-side analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

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.