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

Principal Financial Group Inc. reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 404,389 shares of the semiconductor company’s stock after selling 56,208 shares during the quarter. Principal Financial Group Inc. owned about 0.44% of Qorvo worth $36,832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. acquired a new stake in Qorvo in the 3rd quarter worth about $2,689,000. Norges Bank acquired a new position in shares of Qorvo during the 2nd quarter valued at about $153,994,000. Seizert Capital Partners LLC purchased a new position in shares of Qorvo during the 3rd quarter worth about $2,092,000. Vinva Investment Management Ltd acquired a new stake in shares of Qorvo in the second quarter worth approximately $507,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Qorvo in the second quarter valued at approximately $2,758,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 2.2%

Shares of QRVO opened at $82.72 on Friday. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $106.30. The stock’s 50-day moving average is $84.16 and its two-hundred day moving average is $87.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. The stock has a market cap of $7.67 billion, a PE ratio of 22.79, a P/E/G ratio of 1.41 and a beta of 1.37.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.93 by $0.24. The firm had revenue of $993.00 million for the quarter, compared to analyst estimates of $984.10 million. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.Qorvo’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 EPS. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. Equities analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Qorvo from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $92.00 to $105.00 in a research report on Tuesday, November 4th. KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a research report on Wednesday, January 28th. Craig Hallum reduced their target price on Qorvo from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Weiss Ratings upgraded Qorvo from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, January 29th. Finally, Cfra reaffirmed a “hold” rating and issued a $122.00 price objective on shares of Qorvo in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $93.56.

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.