Alliancebernstein L.P. Purchases 155,987 Shares of Qorvo, Inc. $QRVO

Key Points

• Alliancebernstein L.P. has increased its stake in Qorvo, Inc. by 136.1%, acquiring an additional 155,987 shares to reach a total of 270,564 shares valued at approximately $19.6 million.
• Several institutional investors have also made significant transactions regarding Qorvo stock, with 88.57% of the stock now owned by institutional investors.
• Qorvo recently reported a quarterly earnings increase, with earnings per share of $0.92, surpassing the analyst consensus of $0.62, though the revenue decreased by 7.7% year-over-year.

Alliancebernstein L.P. grew its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 136.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 270,564 shares of the semiconductor company's stock after purchasing an additional 155,987 shares during the quarter. Alliancebernstein L.P. owned approximately 0.29% of Qorvo worth $19,592,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of QRVO. Contour Asset Management LLC bought a new stake in shares of Qorvo in the 1st quarter valued at $151,698,000. The Manufacturers Life Insurance Company lifted its position in shares of Qorvo by 2,096.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 498,122 shares of the semiconductor company's stock valued at $36,069,000 after acquiring an additional 475,444 shares during the period. Shannon River Fund Management LLC acquired a new position in shares of Qorvo during the 1st quarter valued at $32,085,000. Voloridge Investment Management LLC acquired a new position in shares of Qorvo during the 4th quarter valued at $29,650,000. Finally, LSV Asset Management lifted its position in shares of Qorvo by 114.4% during the 1st quarter. LSV Asset Management now owns 634,381 shares of the semiconductor company's stock valued at $45,936,000 after acquiring an additional 338,521 shares during the period. 88.57% of the stock is owned by institutional investors.

Qorvo Stock Performance

QRVO opened at $89.19 on Thursday. The company has a current ratio of 2.81, a quick ratio of 2.01 and a debt-to-equity ratio of 0.45. The company's fifty day moving average price is $88.52 and its two-hundred day moving average price is $77.84. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $108.44. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 104.93, a PEG ratio of 1.80 and a beta of 1.39.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.30. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The firm had revenue of $818.80 million for the quarter, compared to the consensus estimate of $775.61 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The business's revenue was down 7.7% on a year-over-year basis. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on QRVO shares. Susquehanna reiterated a "neutral" rating and set a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Mizuho set a $84.00 target price on shares of Qorvo and gave the company a "neutral" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group started coverage on shares of Qorvo in a research report on Thursday, July 10th. They set a "neutral" rating and a $90.00 target price on the stock. UBS Group set a $100.00 target price on shares of Qorvo and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $95.35.

About Qorvo

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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