Panagora Asset Management Inc. Decreases Holdings in Qorvo, Inc. $QRVO

Key Points

• Panagora Asset Management Inc. has reduced its stake in Qorvo, Inc. by 52.9%, holding now approximately $14.18 million in shares after selling 219,645 shares in the most recent quarter.
• Qorvo recently reported earnings of $0.92 EPS, exceeding analysts' expectations, with a revenue of $818.80 million, despite a year-over-year decline of 7.7%.
• Analysts have rated Qorvo's stock with a consensus rating of "Hold" and a price target averaging $95.35, with some investment firms boosting their price objectives significantly.

Panagora Asset Management Inc. lowered its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 52.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 195,827 shares of the semiconductor company's stock after selling 219,645 shares during the period. Panagora Asset Management Inc. owned about 0.21% of Qorvo worth $14,180,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vident Advisory LLC boosted its holdings in Qorvo by 2.4% in the 1st quarter. Vident Advisory LLC now owns 17,705 shares of the semiconductor company's stock worth $1,282,000 after buying an additional 422 shares during the period. Evergreen Capital Management LLC raised its position in shares of Qorvo by 17.9% during the 1st quarter. Evergreen Capital Management LLC now owns 4,502 shares of the semiconductor company's stock valued at $326,000 after buying an additional 683 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Qorvo by 2,096.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 498,122 shares of the semiconductor company's stock valued at $36,069,000 after buying an additional 475,444 shares in the last quarter. Shannon River Fund Management LLC purchased a new stake in shares of Qorvo during the 1st quarter valued at about $32,085,000. Finally, FORA Capital LLC raised its position in Qorvo by 232.3% in the 1st quarter. FORA Capital LLC now owns 27,654 shares of the semiconductor company's stock worth $2,002,000 after purchasing an additional 19,331 shares during the period. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Up 1.5%

Shares of NASDAQ QRVO traded up $1.32 during midday trading on Thursday, reaching $92.20. 1,434,687 shares of the company's stock traded hands, compared to its average volume of 2,328,853. Qorvo, Inc. has a one year low of $49.46 and a one year high of $109.78. The stock's 50 day simple moving average is $87.88 and its 200-day simple moving average is $77.35. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 108.47, a P/E/G ratio of 1.77 and a beta of 1.39.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 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 company 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 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. On average, analysts predict that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on QRVO shares. Loop Capital increased their price objective on shares of Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Qorvo from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Barclays upped 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. The Goldman Sachs Group started coverage on shares of Qorvo in a research note on Thursday, July 10th. They issued a "neutral" rating and a $90.00 target price on the stock. Finally, Benchmark upped their target price on shares of Qorvo from $95.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Qorvo presently has a consensus rating of "Hold" and an average target price of $95.35.

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.