Financiere des Professionnels Fonds d investissement inc. Invests $295,000 in Qorvo, Inc. $QRVO

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 3,480 shares of Qorvo, Inc. valued at approximately $295,000 in the second quarter, indicating a growing interest among institutional investors in the semiconductor sector.
• Qorvo's stock recently received a range of price targets from analysts, with Piper Sandler raising its target from $110.00 to $125.00, reflecting a consensus rating of "Hold" and an average price target of $95.35.
• In its latest earnings announcement, Qorvo reported an EPS of $0.92, beating estimates and illustrating a 7.7% year-over-year revenue decline, with a revenue of $818.80 million for the quarter.

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,480 shares of the semiconductor company's stock, valued at approximately $295,000.

Other hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Qorvo by 166.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 485 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 303 shares during the period. Voya Investment Management LLC lifted its position in Qorvo by 19.0% in the first quarter. Voya Investment Management LLC now owns 18,725 shares of the semiconductor company's stock valued at $1,356,000 after purchasing an additional 2,990 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Qorvo by 6.3% in the 1st quarter. IFM Investors Pty Ltd now owns 18,112 shares of the semiconductor company's stock valued at $1,311,000 after buying an additional 1,075 shares during the period. United Services Automobile Association acquired a new stake in shares of Qorvo in the 1st quarter valued at approximately $440,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at approximately $264,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QRVO has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $88.00 target price on Qorvo and gave the company a "hold" rating in a report on Wednesday, July 30th. Piper Sandler raised their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Susquehanna reiterated a "neutral" rating and set a $95.00 price target (up from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Needham & Company LLC lifted their price target on shares of Qorvo from $90.00 to $104.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Qorvo presently has an average rating of "Hold" and an average price target of $95.35.

Qorvo Price Performance

QRVO stock traded up $1.78 during trading on Friday, hitting $91.81. The stock had a trading volume of 11,604,052 shares, compared to its average volume of 1,648,031. The company's 50 day moving average price is $88.63 and its two-hundred day moving average price is $78.60. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $107.33. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 108.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.39. 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 posted its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share 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 analyst estimates of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The company's revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, sell-side analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current fiscal 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.