Jacobs Levy Equity Management Inc. Decreases Holdings in Qorvo, Inc. $QRVO

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Qorvo, Inc. by 22.4%, selling 22,779 shares, and now owns approximately 0.08% of the company worth $5.7 million.
• Following the recent earnings results, Qorvo reported an earnings per share of $0.92, surpassing analyst estimates, despite a 7.7% year-over-year decline in revenue.
• Institutional investors hold a significant majority of Qorvo's stock, owning approximately 88.57% of the company, with mixed analyst ratings and a current average target price of $95.35.

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 22.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,763 shares of the semiconductor company's stock after selling 22,779 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.08% of Qorvo worth $5,703,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. City Holding Co. purchased a new stake in shares of Qorvo during the 1st quarter valued at about $25,000. Banque Transatlantique SA purchased a new stake in shares of Qorvo during the 1st quarter valued at about $27,000. Larson Financial Group LLC raised its position in shares of Qorvo by 222.6% during the 1st quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock valued at $31,000 after buying an additional 296 shares in the last quarter. Curat Global LLC bought a new position in Qorvo during the 1st quarter valued at about $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Qorvo during the 1st quarter valued at about $34,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on QRVO. Susquehanna reiterated a "neutral" rating and set a $95.00 price target (up from $90.00) on shares of Qorvo in a report on Wednesday, July 30th. Barclays upped their price target 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 upgraded shares of Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Mizuho set a $84.00 price target on shares of Qorvo and gave the company a "neutral" rating in a report on Tuesday, July 1st. Finally, Citigroup reiterated a "sell" rating on shares of Qorvo in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Qorvo has a consensus rating of "Hold" and an average target price of $95.35.

Qorvo Trading Down 1.0%

QRVO stock traded down $0.86 during mid-day trading on Friday, reaching $86.81. The company had a trading volume of 2,045,327 shares, compared to its average volume of 1,473,118. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. The company has a market capitalization of $8.04 billion, a PE ratio of 102.13, a price-to-earnings-growth ratio of 1.71 and a beta of 1.39. The firm has a 50 day moving average of $88.64 and a 200 day moving average of $78.03. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $108.44.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.30. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The firm had revenue of $818.80 million during the quarter, compared to analysts' expectations of $775.61 million. During the same quarter in the prior year, the company earned $0.87 EPS. The company's revenue was down 7.7% compared to the same quarter last year. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, equities analysts predict 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.