Neuberger Berman Group LLC Sells 88,383 Shares of Qorvo, Inc. $QRVO

Key Points

• Neuberger Berman Group LLC significantly reduced its stake in Qorvo, Inc. by 91.1%, selling 88,383 shares, leaving them with 8,645 shares valued at $626,000.
• Several institutional investors have increased their positions in Qorvo, with Ameriprise Financial leading at a 102.0% increase during the 4th quarter.
• Qorvo's recent earnings report showed an EPS of $0.92, surpassing estimates, despite a 7.7% revenue decline year-over-year.

Neuberger Berman Group LLC cut its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 91.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,645 shares of the semiconductor company's stock after selling 88,383 shares during the quarter. Neuberger Berman Group LLC's holdings in Qorvo were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of QRVO. Ameriprise Financial Inc. lifted its holdings in shares of Qorvo by 102.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock worth $251,577,000 after acquiring an additional 1,816,811 shares during the last quarter. Vulcan Value Partners LLC increased its position in Qorvo by 53.7% during the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after purchasing an additional 902,353 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Qorvo by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock worth $99,280,000 after buying an additional 264,167 shares during the period. Woodline Partners LP grew its position in shares of Qorvo by 31.3% in the 4th quarter. Woodline Partners LP now owns 968,103 shares of the semiconductor company's stock worth $67,699,000 after buying an additional 230,710 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Qorvo by 7.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 888,814 shares of the semiconductor company's stock worth $64,359,000 after buying an additional 57,838 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on QRVO shares. Craig Hallum restated a "buy" rating on shares of Qorvo in a research note on Wednesday, July 30th. Mizuho set a $84.00 target price on shares of Qorvo and gave the stock a "neutral" rating in a report on Tuesday, July 1st. The Goldman Sachs Group assumed coverage on shares of Qorvo in a report on Thursday, July 10th. They issued a "neutral" rating and a $90.00 target price for the company. Barclays increased their price objective 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. 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 research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Qorvo currently has an average rating of "Hold" and a consensus target price of $95.35.

Qorvo Price Performance

Shares of QRVO stock traded down $0.3150 on Thursday, reaching $88.7350. The company's stock had a trading volume of 152,149 shares, compared to its average volume of 2,378,000. The stock's fifty day simple moving average is $85.79 and its 200-day simple moving average is $76.48. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $117.90. The company has a current ratio of 2.81, a quick ratio of 2.01 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 104.45, a price-to-earnings-growth ratio of 1.75 and a beta of 1.35.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results 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. 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 analyst estimates of $775.61 million. During the same period last year, the firm posted $0.87 earnings per share. Qorvo'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. Analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

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.