Qorvo, Inc. $QRVO Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has decreased its stake in Qorvo, Inc. by 17.0%, selling 5,167 shares and leaving them with 25,300 shares valued at approximately $1.83 million.
• Qorvo has received mixed analyst ratings with a target price range from $84.00 to $125.00, resulting in a consensus rating of "Hold" and an average price target of $95.35.
• In its latest earnings report, Qorvo beat analysts' expectations with an earnings per share of $0.92 and reported a revenue of $818.80 million, albeit a 7.7% decline year-over-year.

American Century Companies Inc. reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 17.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,300 shares of the semiconductor company's stock after selling 5,167 shares during the quarter. American Century Companies Inc.'s holdings in Qorvo were worth $1,832,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its holdings in shares of Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock valued at $251,577,000 after acquiring an additional 1,816,811 shares in the last quarter. Woodline Partners LP raised its holdings in Qorvo by 31.3% in the fourth quarter. Woodline Partners LP now owns 968,103 shares of the semiconductor company's stock worth $67,699,000 after purchasing an additional 230,710 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Qorvo by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 888,814 shares of the semiconductor company's stock valued at $64,359,000 after purchasing an additional 57,838 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Qorvo by 20.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,076 shares of the semiconductor company's stock valued at $47,698,000 after purchasing an additional 117,053 shares in the last quarter. Finally, LSV Asset Management boosted its position in Qorvo by 114.4% in the first quarter. LSV Asset Management now owns 634,381 shares of the semiconductor company's stock valued at $45,936,000 after buying an additional 338,521 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler upped their price objective on Qorvo from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Stifel Nicolaus set a $88.00 price objective on Qorvo and gave the company a "hold" rating in a research note on Wednesday, July 30th. UBS Group set a $100.00 price target on Qorvo and gave the stock a "neutral" rating in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on Qorvo in a report on Thursday, July 10th. They set a "neutral" rating and a $90.00 price target for the company. Finally, Susquehanna reiterated a "neutral" rating and issued a $95.00 price objective (up previously from $90.00) on shares of Qorvo in a research note on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $95.35.

Qorvo Stock Performance

QRVO traded up $1.32 during trading on Thursday, hitting $92.20. 1,434,682 shares of the stock were exchanged, compared to its average volume of 2,328,252. The firm has a market capitalization of $8.54 billion, a P/E ratio of 108.47, a PEG ratio of 1.77 and a beta of 1.39. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $109.78. The stock has a fifty day moving average price of $87.88 and a two-hundred day moving average price of $77.35. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45.

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

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.