Allstate Corp Takes Position in Qorvo, Inc. $QRVO

Key Points

• Allstate Corp has made a new investment in Qorvo, Inc., buying 3,200 shares valued at approximately $232,000 during the first quarter.
• Qorvo has received multiple upgrades from analysts, with Benchmark increasing its price target from $95.00 to $125.00 and five analysts currently rating the stock as a "Buy."
• The company's recent quarterly earnings report showed EPS of $0.92, surpassing estimates, but revenue declined 7.7% year-over-year.

Allstate Corp acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,200 shares of the semiconductor company's stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also modified their holdings of QRVO. City Holding Co. purchased a new position in shares of Qorvo during the 1st quarter worth $25,000. Larson Financial Group LLC boosted its stake in shares of Qorvo by 222.6% during the 1st quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 296 shares during the last quarter. Curat Global LLC purchased a new position in shares of Qorvo during the 1st quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Qorvo during the 1st quarter worth $34,000. Finally, Signaturefd LLC boosted its stake in shares of Qorvo by 34.6% during the 1st quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on QRVO shares. Stifel Nicolaus set a $88.00 price objective on shares of Qorvo and gave the company a "hold" rating in a research report on Wednesday, July 30th. Citigroup restated a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Loop Capital raised their price objective on shares of Qorvo from $75.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Susquehanna restated a "neutral" rating and set a $95.00 price objective (up from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $95.35.

Qorvo Price Performance

NASDAQ QRVO traded down $0.79 on Monday, reaching $90.70. The company had a trading volume of 1,451,497 shares, compared to its average volume of 1,466,318. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $8.40 billion, a PE ratio of 106.71, a price-to-earnings-growth ratio of 1.77 and a beta of 1.39. The firm's 50 day moving average price is $87.55 and its 200 day moving average price is $77.16. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $117.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.30. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The business had revenue of $818.80 million during the quarter, compared to analysts' expectations of $775.61 million. During the same period last year, the company posted $0.87 EPS. 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. As a group, equities analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current 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.