Qorvo, Inc. $QRVO Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,291 shares of the semiconductor company’s stock after selling 20,801 shares during the period. Rhumbline Advisers’ holdings in Qorvo were worth $19,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Qorvo during the 2nd quarter worth approximately $153,994,000. LSV Asset Management lifted its position in Qorvo by 118.0% during the second quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company’s stock worth $117,428,000 after buying an additional 748,589 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Qorvo by 63.6% during the second quarter. Rafferty Asset Management LLC now owns 1,214,482 shares of the semiconductor company’s stock worth $103,122,000 after buying an additional 472,211 shares during the last quarter. Dorsal Capital Management LP purchased a new stake in Qorvo in the 2nd quarter valued at $34,389,000. Finally, Bank of America Corp DE increased its stake in shares of Qorvo by 20.2% in the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock worth $128,975,000 after acquiring an additional 255,068 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 $84.29 on Wednesday. The business has a fifty day moving average price of $83.49 and a 200 day moving average price of $87.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $106.30. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 1.47 and a beta of 1.37.

Qorvo (NASDAQ:QRVO) last posted 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. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The company had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $984.10 million. During the same quarter in the previous year, the business posted $1.61 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. Sell-side analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Craig Hallum cut their price objective on shares of Qorvo from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Argus raised shares of Qorvo to a “hold” rating in a research note on Wednesday, November 5th. Cfra reaffirmed a “hold” rating and set a $122.00 price target on shares of Qorvo in a research report on Tuesday, October 28th. JPMorgan Chase & Co. upgraded Qorvo from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $92.00 to $105.00 in a report on Tuesday, November 4th. Finally, KeyCorp reissued a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average price target 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.