Ameriprise Financial Inc. Has $110.82 Million Stock Position in Qorvo, Inc. $QRVO

Key Points

• Ameriprise Financial Inc. has reduced its stake in Qorvo, Inc. by 57.5%, owning 1,530,457 shares valued at approximately $110.82 million after selling over 2 million shares in the first quarter.
• Several hedge funds have recently altered their positions in Qorvo, with notable increases in holdings from Bragg Financial Advisors (4.1%) and Brooklyn Investment Group (33.1%).
• Qorvo's recent earnings report showed a disappointing revenue decline of 7.7% year-over-year, but EPS exceeded expectations at $0.92 compared to the consensus estimate of $0.62.

Ameriprise Financial Inc. trimmed its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 57.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,530,457 shares of the semiconductor company's stock after selling 2,067,089 shares during the period. Ameriprise Financial Inc. owned 1.64% of Qorvo worth $110,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. City Holding Co. acquired a new position in shares of Qorvo in the 1st quarter valued at $25,000. Larson Financial Group LLC lifted its holdings in 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 buying an additional 296 shares during the last quarter. Curat Global LLC bought a new stake in shares of Qorvo during the 1st quarter valued at about $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Qorvo during the 1st quarter worth approximately $34,000. Finally, Signaturefd LLC lifted its stake in Qorvo by 34.6% in the first quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock valued at $48,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Trading Down 0.9%

NASDAQ:QRVO traded down $0.79 during trading hours on Friday, hitting $90.70. 1,451,497 shares of the stock were exchanged, compared to its average volume of 1,510,900. The company has a market capitalization of $8.40 billion, a P/E ratio of 106.71, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45. The company's 50 day moving average is $87.35 and its two-hundred day moving average is $77.06. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $117.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.30. The business had revenue of $818.80 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on QRVO shares. Craig Hallum reiterated a "buy" rating on shares of Qorvo in a research note on Wednesday, July 30th. Susquehanna reissued a "neutral" rating and set a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research note on Wednesday, July 30th. TD Cowen increased their price objective on Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Benchmark upped their price target on Qorvo from $95.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group started coverage on shares of Qorvo in a research note on Thursday, July 10th. They issued a "neutral" rating and a $90.00 target price on the stock. Five 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. According to MarketBeat.com, the company currently 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.