Allianz Asset Management GmbH Cuts Stock Holdings in Qorvo, Inc. $QRVO

Allianz Asset Management GmbH cut its stake in Qorvo, Inc. (NASDAQ:QRVO) by 10.9% in the third quarter, HoldingsChannel reports. The firm owned 465,065 shares of the semiconductor company’s stock after selling 57,053 shares during the quarter. Allianz Asset Management GmbH’s holdings in Qorvo were worth $42,358,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new position in shares of Qorvo in the 3rd quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Qorvo in the second quarter valued at approximately $25,000. Winnow Wealth LLC purchased a new position in Qorvo in the third quarter worth approximately $27,000. Salomon & Ludwin LLC purchased a new position in Qorvo in the third quarter worth approximately $34,000. Finally, True Wealth Design LLC grew its holdings in Qorvo by 560.3% during the 3rd quarter. True Wealth Design LLC now owns 416 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 2.2%

NASDAQ:QRVO opened at $82.72 on Friday. The company has a market capitalization 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, Inc. has a 52-week low of $49.46 and a 52-week high of $106.30. The stock’s 50 day moving average price is $84.16 and its 200 day moving average price is $87.35. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.24. The business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $984.10 million. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 earnings per share. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, research analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on QRVO. Cfra reaffirmed a “hold” rating and set a $122.00 price objective on shares of Qorvo in a research report on Tuesday, October 28th. Piper Sandler reaffirmed a “neutral” rating on shares of Qorvo in a report on Wednesday, January 28th. Craig Hallum lowered their price objective on Qorvo from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. TD Cowen decreased their target price on Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Finally, Susquehanna dropped their price target on shares of Qorvo from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $93.56.

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.