Amundi Trims Position in Qorvo, Inc. $QRVO

Key Points

• Amundi has reduced its stake in Qorvo, Inc. by 5.6%, now holding approximately 2.17% of the company, valued at $146.50 million after selling 120,686 shares in the first quarter.
• Institutional investors collectively own 88.57% of Qorvo's stock, with several firms adjusting their positions, indicating significant institutional interest in the company.
• Qorvo reported earnings of $0.92 per share in its latest quarterly results, surpassing analyst expectations, while revenue decreased by 7.7% compared to the previous year.

Amundi lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,023,172 shares of the semiconductor company's stock after selling 120,686 shares during the period. Amundi owned approximately 2.17% of Qorvo worth $146,498,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Contour Asset Management LLC purchased a new stake in Qorvo during the 1st quarter valued at about $151,698,000. The Manufacturers Life Insurance Company boosted its position in Qorvo by 2,096.5% in the first quarter. The Manufacturers Life Insurance Company now owns 498,122 shares of the semiconductor company's stock valued at $36,069,000 after buying an additional 475,444 shares during the last quarter. Shannon River Fund Management LLC purchased a new stake in Qorvo in the first quarter valued at approximately $32,085,000. Voloridge Investment Management LLC purchased a new stake in Qorvo in the fourth quarter valued at approximately $29,650,000. Finally, LSV Asset Management boosted its holdings in shares of 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 during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

QRVO traded down $4.71 during midday trading on Wednesday, hitting $87.40. 637,655 shares of the company traded hands, compared to its average volume of 2,311,392. 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 has a market capitalization of $8.10 billion, a price-to-earnings ratio of 102.92, a PEG ratio of 1.79 and a beta of 1.39. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $108.44. The business has a 50 day simple moving average of $88.51 and a two-hundred day simple moving average of $77.76.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (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 analysts' expectations of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The firm's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, equities analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on QRVO shares. Barclays upped 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. Wall Street Zen raised shares of Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Loop Capital upped their target price on Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Craig Hallum restated a "buy" rating on shares of Qorvo in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group started coverage on Qorvo in a research report on Thursday, July 10th. They issued a "neutral" rating and a $90.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $95.35.

Qorvo Company 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.