Franklin Resources Inc. Cuts Stake in Qorvo, Inc. $QRVO

Franklin Resources Inc. cut its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,237 shares of the semiconductor company’s stock after selling 1,833 shares during the quarter. Franklin Resources Inc. owned approximately 0.05% of Qorvo worth $4,266,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QRVO. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Qorvo by 1.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,679 shares of the semiconductor company’s stock valued at $682,000 after acquiring an additional 118 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Qorvo by 6.9% during the second quarter. HB Wealth Management LLC now owns 2,955 shares of the semiconductor company’s stock worth $251,000 after purchasing an additional 190 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Qorvo by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,974 shares of the semiconductor company’s stock valued at $2,630,000 after purchasing an additional 203 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Qorvo by 1.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,515 shares of the semiconductor company’s stock valued at $1,148,000 after purchasing an additional 220 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in Qorvo by 0.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 31,850 shares of the semiconductor company’s stock worth $2,704,000 after purchasing an additional 232 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Down 0.2%

QRVO opened at $85.75 on Tuesday. The stock has a market capitalization of $7.92 billion, a PE ratio of 37.12, a P/E/G ratio of 1.56 and a beta of 1.37. 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. The business’s 50 day moving average price is $89.10 and its 200 day moving average price is $86.69.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Monday, November 3rd. The semiconductor company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.19. The company had revenue of $1.06 billion for the quarter. Qorvo had a return on equity of 13.30% and a net margin of 5.95%.Qorvo’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.88 EPS. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. As a group, equities research analysts expect that Qorvo, Inc. will post 4.09 EPS for the current year.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 13,612 shares of Qorvo stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $95.00, for a total transaction of $1,293,140.00. Following the completion of the sale, the senior vice president directly owned 54,558 shares in the company, valued at $5,183,010. This trade represents a 19.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on QRVO shares. Piper Sandler cut shares of Qorvo from an “overweight” rating to a “hold” rating and set a $110.00 target price for the company. in a research report on Wednesday, October 29th. Citigroup upgraded shares of Qorvo from a “sell” rating to a “neutral” rating and increased their price objective for the company from $70.00 to $105.00 in a report on Tuesday, October 28th. Morgan Stanley set a $110.00 target price on Qorvo and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Cfra reaffirmed a “hold” rating and issued a $122.00 price target on shares of Qorvo in a report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Qorvo in a research report on Tuesday, November 25th. Three equities 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.00.

Qorvo Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.