Jacobs Levy Equity Management Inc. Sells 22,779 Shares of 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. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 22.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,763 shares of the semiconductor company's stock after selling 22,779 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.08% of Qorvo worth $5,703,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. City Holding Co. bought a new stake in shares of Qorvo in the 1st quarter valued at about $25,000. Banque Transatlantique SA acquired a new position in shares of Qorvo in the 1st quarter worth approximately $27,000. Larson Financial Group LLC lifted its position in shares of Qorvo by 222.6% in the 1st 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 position in shares of Qorvo in the 1st quarter worth approximately $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Qorvo in the 1st quarter worth approximately $34,000. Institutional investors own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QRVO. Craig Hallum restated a "buy" rating on shares of Qorvo in a research report on Wednesday, July 30th. Mizuho set a $84.00 price target on shares of Qorvo and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Needham & Company LLC boosted their price target on shares of Qorvo from $90.00 to $104.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group assumed coverage on shares of Qorvo in a research report on Thursday, July 10th. They set a "neutral" rating and a $90.00 target price on the stock. Finally, Citigroup reiterated a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $95.35.

Qorvo Stock Down 1.2%

QRVO stock opened at $91.76 on Tuesday. The stock's 50 day simple moving average is $88.39 and its 200 day simple moving average is $77.66. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $108.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. The company has a market cap of $8.50 billion, a P/E ratio of 107.95, a price-to-earnings-growth ratio of 1.81 and a beta of 1.39.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $818.80 million for the quarter, compared to the consensus estimate of $775.61 million. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.The firm's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, research analysts expect that Qorvo, Inc. will post 4.09 earnings per share 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.

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