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

Other large investors have also recently added to or reduced their stakes in the company. City Holding Co. bought a new position in Qorvo during the 1st quarter valued at $25,000. Larson Financial Group LLC raised its holdings in shares of Qorvo by 222.6% during the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 296 shares during the period. Curat Global LLC acquired a new stake in shares of Qorvo during the first quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Qorvo during the first quarter worth $34,000. Finally, Signaturefd LLC raised its holdings in shares of Qorvo by 34.6% during the first quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 170 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QRVO has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Qorvo in a report on Thursday, July 10th. They set a "neutral" rating and a $90.00 target price on the stock. Loop Capital increased their target price on shares of Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Craig Hallum reissued a "buy" rating on shares of Qorvo in a report on Wednesday, July 30th. TD Cowen increased their target price on shares of Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $95.35.

Qorvo Stock Performance

Shares of QRVO stock traded up $3.88 during trading hours on Friday, reaching $92.95. The stock had a trading volume of 1,870,274 shares, compared to its average volume of 1,984,301. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $117.90. The firm has a 50-day simple moving average of $86.21 and a 200-day simple moving average of $76.55. The firm has a market capitalization of $8.61 billion, a PE ratio of 109.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.35.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.30. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The business had revenue of $818.80 million for the quarter, compared to analysts' expectations of $775.61 million. During the same quarter last year, the company earned $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, equities analysts forecast 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.