Qorvo, Inc. $QRVO Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,295 shares of the semiconductor company's stock after acquiring an additional 18,652 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.27% of Qorvo worth $21,946,000 at the end of the most recent quarter.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Qorvo during the 2nd quarter worth about $942,610,000. State Street Corp raised its holdings in Qorvo by 5.0% in the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company's stock valued at $314,516,000 after acquiring an additional 175,031 shares in the last quarter. FIL Ltd lifted its stake in Qorvo by 13.2% in the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company's stock worth $305,085,000 after acquiring an additional 421,224 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Qorvo by 16.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company's stock worth $168,842,000 after acquiring an additional 311,645 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Qorvo during the 2nd quarter worth approximately $182,131,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Qorvo from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. Citigroup lowered their price target on Qorvo from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, July 29th. TD Cowen reissued a "hold" rating on shares of Qorvo in a report on Wednesday, July 29th. Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a research report on Friday, July 24th. Finally, UBS Group upped their target price on shares of Qorvo from $91.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $94.00.

Qorvo Trading Up 2.5%

Shares of Qorvo stock opened at $102.84 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. The company has a market capitalization of $9.07 billion, a P/E ratio of 23.86, a PEG ratio of 1.77 and a beta of 1.45. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49. The company's fifty day moving average is $92.09 and its two-hundred day moving average is $89.47.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts forecast that Qorvo, Inc. will post 6.3 earnings per share for the current year.

Insider Activity at Qorvo

In other Qorvo news, CEO Robert Bruggeworth sold 28,744 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.87, for a total value of $2,899,407.28. Following the completion of the transaction, the chief executive officer directly owned 325,546 shares of the company's stock, valued at approximately $32,837,825.02. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Paul Fego sold 2,500 shares of Qorvo stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the senior vice president directly owned 76,960 shares of the company's stock, valued at approximately $7,696,000. This represents a 3.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 54,999 shares of company stock worth $5,458,714. 0.49% of the stock is currently owned by insiders.

Key Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations: earnings per share came in at $1.64 versus the $1.11 consensus estimate, while revenue of roughly $784.8 million surpassed forecasts of $743.3 million. The earnings beat provides support for the stock, although revenue declined 4.2% year over year.
• Positive Sentiment: Institutional ownership remains high at approximately 88.6%, with major investors including BlackRock, California State Teachers’ Retirement System and Bank of America reportedly adding or initiating sizable positions. Such buying can reinforce investor confidence and provide demand for QRVO shares.
• Positive Sentiment: Qorvo’s exposure to radio-frequency solutions for drones, satellite communications and industrial IoT may offer longer-term growth opportunities in bandwidth, connectivity and power-efficiency markets.
• Neutral Sentiment: Brokerages maintain an average “Hold” recommendation, with three Buy ratings, fourteen Holds and one Sell. The average price target is $94, below recent trading levels, suggesting analysts see limited near-term upside despite the earnings beat. Qorvo Given Average Recommendation of Hold
• Neutral Sentiment: Skyworks Solutions’ extension of exchange offers for Qorvo notes keeps the companies’ merger plans in focus. The potential transaction could be a catalyst, but the extension also leaves timing, financing and completion risks unresolved.
• Negative Sentiment: Several executives recently sold shares. CEO Robert Bruggeworth sold 28,744 shares for approximately $2.9 million, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. The combined sales total roughly $4.4 million and could weigh on sentiment, though they may reflect routine diversification rather than a change in business outlook. Qorvo Insider Selling

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo's product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.

Want to see what other hedge funds are holding QRVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qorvo, Inc. (NASDAQ:QRVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source