Ameriprise Financial Inc. Sells 2,067,089 Shares of 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. lowered its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 57.5% during the 1st quarter, according to the company in its most recent disclosure 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 about 1.64% of Qorvo worth $110,820,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Qorvo by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock worth $99,280,000 after purchasing an additional 264,167 shares during the period. Woodline Partners LP lifted its stake 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 acquiring an additional 230,710 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Qorvo by 7.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 888,814 shares of the semiconductor company's stock worth $64,359,000 after purchasing an additional 57,838 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 buying an additional 117,053 shares in the last quarter. Finally, LSV Asset Management lifted its position in Qorvo by 114.4% in 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 in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Trading Down 0.9%

QRVO stock traded down $0.87 during midday trading on Friday, reaching $90.62. 531,207 shares of the company traded hands, compared to its average volume of 2,343,230. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 106.63, a P/E/G ratio of 1.79 and a beta of 1.35. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $117.90. The business has a 50 day moving average of $87.13 and a 200-day moving average of $76.96. 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 (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.30. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.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 previous year, the company posted $0.87 EPS. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, sell-side analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

QRVO has been the subject of several research reports. Citigroup reaffirmed a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Stifel Nicolaus set a $88.00 price objective on Qorvo and gave the company a "hold" rating in a research report on Wednesday, July 30th. Loop Capital increased their target price on Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. TD Cowen boosted their price target on Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, Barclays increased their price objective on shares of Qorvo from $70.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.