Ninety One UK Ltd Trims Position in Qorvo, Inc. $QRVO

Key Points

• Ninety One UK Ltd reduced its stake in Qorvo, Inc. by 10.0% in the second quarter, now owning 462,280 shares valued at approximately $39.25 million.
• Several hedge funds have made significant investments in Qorvo, with Jericho Capital Asset Management and Contour Asset Management purchasing stakes valued at a combined total of about $320 million during the first quarter.
• Equities research analysts have varied opinions on Qorvo's stock, with five analysts rating it a Buy while ten assigned a Hold rating, reflecting a consensus rating of "Hold" and an average price target of $95.35.

Ninety One UK Ltd lessened its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 10.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 462,280 shares of the semiconductor company's stock after selling 51,159 shares during the quarter. Ninety One UK Ltd owned 0.50% of Qorvo worth $39,252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Jericho Capital Asset Management L.P. purchased a new stake in shares of Qorvo during the 1st quarter valued at about $168,980,000. Contour Asset Management LLC purchased a new stake in Qorvo during the first quarter valued at approximately $151,698,000. Charles Schwab Investment Management Inc. increased its holdings in Qorvo by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 888,814 shares of the semiconductor company's stock valued at $64,359,000 after buying an additional 57,838 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Qorvo by 82.8% during the second quarter. Assenagon Asset Management S.A. now owns 763,654 shares of the semiconductor company's stock valued at $64,842,000 after buying an additional 345,929 shares during the last quarter. Finally, LSV Asset Management increased its holdings in Qorvo by 114.4% during the first quarter. LSV Asset Management now owns 634,381 shares of the semiconductor company's stock valued at $45,936,000 after buying an additional 338,521 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Needham & Company LLC upped their price objective on Qorvo from $90.00 to $104.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Craig Hallum restated a "buy" rating on shares of Qorvo in a research report on Wednesday, July 30th. Loop Capital upped their price target on Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. UBS Group set a $100.00 price target on Qorvo and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Barclays raised their target price on shares of Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $95.35.

Qorvo Stock Performance

NASDAQ:QRVO opened at $91.08 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 2.01 and a debt-to-equity ratio of 0.45. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $107.33. The stock has a 50-day moving average price of $89.35 and a 200 day moving average price of $79.68. The stock has a market capitalization of $8.44 billion, a P/E ratio of 107.15, a P/E/G ratio of 1.76 and a beta of 1.39.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) 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 business 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 EPS. The company's revenue 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 forecast that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Paul J. Fego sold 13,612 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $95.00, for a total transaction of $1,293,140.00. Following the completion of the transaction, the senior vice president directly owned 54,558 shares of the company's stock, valued at approximately $5,183,010. This trade represents a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company's stock.

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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