Qorvo, Inc. $QRVO Stock Holdings Lowered by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

Key Points

• BNP Paribas Asset Management has significantly reduced its stake in Qorvo, Inc. by 68.7%, now holding 31,502 shares valued at approximately $2.28 million as of the end of the first quarter.
• Wall Street analysts remain optimistic about Qorvo's potential, with several brokerages raising their target price for the stock, and an average rating of "Hold" has been assigned.
• Qorvo reported quarterly earnings of $0.92 per share, exceeding estimates, but experienced a 7.7% decline in revenue compared to the previous year.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 68.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,502 shares of the semiconductor company's stock after selling 69,128 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Qorvo were worth $2,281,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group increased its holdings in Qorvo by 33.1% in the first quarter. Brooklyn Investment Group now owns 1,170 shares of the semiconductor company's stock valued at $85,000 after buying an additional 291 shares during the last quarter. Algert Global LLC bought a new position in shares of Qorvo in the 1st quarter worth about $701,000. Corient IA LLC acquired a new position in shares of Qorvo in the 1st quarter valued at about $217,000. Cresset Asset Management LLC grew its position in shares of Qorvo by 3.2% during the 1st quarter. Cresset Asset Management LLC now owns 30,354 shares of the semiconductor company's stock valued at $2,198,000 after buying an additional 927 shares during the last quarter. Finally, Ground Swell Capital LLC acquired a new stake in Qorvo during the first quarter worth about $220,000. Institutional investors own 88.57% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on QRVO. Wall Street Zen upgraded Qorvo from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Citigroup restated a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Susquehanna reaffirmed a "neutral" rating and issued a $95.00 target price (up from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Stifel Nicolaus set a $88.00 target price on Qorvo and gave the company a "hold" rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Qorvo in a research report on Thursday, July 10th. They set a "neutral" rating and a $90.00 price target for the company. Five 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $95.35.

Qorvo Price Performance

Qorvo stock traded up $3.88 during trading hours on Friday, hitting $92.95. 1,870,274 shares of the company traded hands, compared to its average volume of 1,984,179. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $117.90. The firm has a market cap of $8.61 billion, a P/E ratio of 109.35, a P/E/G ratio of 1.74 and a beta of 1.35. The firm's 50-day simple moving average is $86.21 and its two-hundred day simple moving average is $76.60. 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 issued its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $775.61 million. During the same period last year, the company posted $0.87 EPS. The firm's quarterly 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, analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

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.