Korea Investment CORP Cuts Stake in Qorvo, Inc. $QRVO

Key Points

• Korea Investment CORP significantly reduced its stake in Qorvo, Inc. by 95.1%, leaving it with a $321,000 position after selling over 85,000 shares.
• Qorvo recently reported quarterly earnings of $0.92 EPS, exceeding analysts' expectations, but experienced a 7.7% revenue decline compared to the same quarter last year.
• Institutional investors hold 88.57% of Qorvo's shares, indicating high institutional interest in the semiconductor company's stock.

Korea Investment CORP lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 95.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,429 shares of the semiconductor company's stock after selling 85,308 shares during the period. Korea Investment CORP's holdings in Qorvo were worth $321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brooklyn Investment Group raised its stake in shares of Qorvo by 33.1% during the first quarter. Brooklyn Investment Group now owns 1,170 shares of the semiconductor company's stock valued at $85,000 after acquiring an additional 291 shares in the last quarter. Algert Global LLC bought a new stake in shares of Qorvo during the first quarter valued at approximately $701,000. Corient IA LLC bought a new stake in shares of Qorvo during the first quarter valued at approximately $217,000. Cresset Asset Management LLC raised its stake in shares of Qorvo by 3.2% during the first quarter. Cresset Asset Management LLC now owns 30,354 shares of the semiconductor company's stock valued at $2,198,000 after acquiring an additional 927 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new stake in shares of Qorvo during the first quarter valued at approximately $220,000. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Down 0.9%

NASDAQ QRVO traded down $0.79 on Friday, hitting $90.70. The stock had a trading volume of 1,451,497 shares, compared to its average volume of 1,510,900. The business's fifty day moving average price is $87.35 and its 200 day moving average price is $77.06. 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 52-week low of $49.46 and a 52-week high of $117.90. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 106.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.35.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) 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 business had revenue of $818.80 million for the quarter, compared to analyst estimates of $775.61 million. During the same period in the previous year, the company earned $0.87 earnings per share. The business's revenue for the quarter was down 7.7% on a year-over-year basis. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Equities research analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Loop Capital lifted their price target on shares of Qorvo from $75.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. UBS Group set a $100.00 price objective on shares of Qorvo and gave the company a "neutral" rating in a report on Wednesday, July 30th. Stifel Nicolaus set a $88.00 price objective on shares of Qorvo and gave the company a "hold" rating in a report on Wednesday, July 30th. TD Cowen lifted their price objective on shares of Qorvo from $80.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Finally, Craig Hallum reissued a "buy" rating on shares of Qorvo in a report on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Qorvo currently has a consensus rating of "Hold" and an average price target of $95.35.

Qorvo 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.