2,094,993 Shares in Qorvo, Inc. $QRVO Acquired by Contour Asset Management LLC

Key Points

• Contour Asset Management LLC acquired 2,094,993 shares of Qorvo, Inc. for approximately $151.7 million, making it the fourth largest holding in their portfolio.
• Qorvo's recent earnings showed a profit of $0.92 EPS, exceeding analyst expectations of $0.62, alongside revenue of $818.8 million for the quarter.
• Wall Street analysts have given Qorvo a consensus rating of "Hold" with an average price target of $95.35 following multiple upward revisions in price targets by several firms.

Contour Asset Management LLC acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,094,993 shares of the semiconductor company's stock, valued at approximately $151,698,000. Qorvo makes up about 6.0% of Contour Asset Management LLC's portfolio, making the stock its 4th largest holding. Contour Asset Management LLC owned approximately 2.24% of Qorvo at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. City Holding Co. acquired a new stake in shares of Qorvo during the 1st quarter worth $25,000. Larson Financial Group LLC raised its stake in Qorvo by 222.6% in the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 296 shares in the last quarter. Curat Global LLC bought a new stake in Qorvo during the first quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Qorvo in the 1st quarter valued at about $34,000. Finally, SVB Wealth LLC acquired a new position in shares of Qorvo in the 1st quarter valued at approximately $47,000. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QRVO. Loop Capital increased their price target on shares of Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Barclays upped their target price on Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Piper Sandler raised their target price on Qorvo from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Citigroup reissued a "sell" rating on shares of Qorvo in a report on Tuesday, June 10th. Finally, UBS Group set a $100.00 price objective on Qorvo and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $95.35.

Qorvo Stock Down 0.9%

Shares of QRVO opened at $90.70 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $117.90. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 1.77 and a beta of 1.39. The stock has a fifty day moving average of $87.35 and a 200-day moving average of $77.06.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.30. The business had revenue of $818.80 million during the quarter, compared to analysts' expectations of $775.61 million. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.The business's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

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.

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