Qorvo, Inc. $QRVO Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors reduced its Qorvo stake by 23% in the first quarter, selling 77,265 shares and retaining 258,358 shares worth nearly $20 million. Institutional investors collectively own 88.57% of the company.
• Qorvo beat quarterly expectations with adjusted EPS of $1.64 versus the $1.11 consensus and revenue of approximately $784.8 million, although revenue declined 4.2% year over year amid weaker smartphone demand.
• Investor sentiment remains mixed as Qorvo advances its planned Skyworks merger: analysts’ average rating is “Hold” with a $94 target, while recent insider sales and merger execution risks add pressure despite the earnings beat.

First Trust Advisors LP lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 23.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 258,358 shares of the semiconductor company's stock after selling 77,265 shares during the period. First Trust Advisors LP owned about 0.29% of Qorvo worth $19,997,000 at the end of the most recent quarter.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

A number of other hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 231 shares during the period. Sound Income Strategies LLC lifted its holdings in Qorvo by 952.8% in the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 343 shares during the period. Advisory Services Network LLC purchased a new stake in Qorvo in the 3rd quarter worth approximately $36,000. V Square Quantitative Management LLC purchased a new stake in Qorvo in the 4th quarter worth approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Qorvo by 60.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company's stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Insider Activity at Qorvo

In related news, SVP Paul J. Fego sold 2,500 shares of Qorvo stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the senior vice president owned 71,038 shares of the company's stock, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gina Harrison sold 4,714 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the sale, the vice president directly owned 24,429 shares of the company's stock, valued at approximately $2,442,900. The trade was a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,966,127 shares of company stock worth $198,911,103 over the last 90 days. 0.49% of the stock is owned by insiders.

Qorvo Stock Down 2.5%

Shares of QRVO opened at $89.50 on Thursday. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The stock's 50 day moving average is $94.34 and its two-hundred day moving average is $86.71. The firm has a market cap of $7.90 billion, a P/E ratio of 20.77, a PEG ratio of 1.44 and a beta of 1.44.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million during the quarter, compared to analysts' expectations of $743.28 million. Qorvo had a return on equity of 17.17% and a net margin of 10.95%.The business's revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Analysts predict that Qorvo, Inc. will post 5.83 earnings per share for the current fiscal year.

Key Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo reported adjusted earnings of $1.64 per share, well above the $1.11 consensus estimate, while revenue of approximately $784.8 million also exceeded expectations. Growth in High-Performance Analog products and cost controls helped improve profitability despite weaker smartphone-related sales. Qorvo Beats Q1 Earnings Estimates Despite Lower Year-over-Year Revenues
• Positive Sentiment: The company raised or reaffirmed its fiscal 2027 outlook at approximately $7.00 in EPS, above the roughly $6.69 analyst expectation, supporting the longer-term earnings case.
• Positive Sentiment: Qorvo and Skyworks unveiled a leadership team for their planned combination. The transaction could create scale and cost synergies, while regulatory approvals are reportedly progressing. Skyworks and Qorvo Unveil Leadership Team for Planned Merger
• Neutral Sentiment: Analysts broadly acknowledged the solid quarter but remain on the sidelines until the Skyworks merger closes. UBS raised its target to $96 while maintaining Hold, and Susquehanna reiterated Hold with an $80 target, citing valuation concerns. UBS Maintains Hold on Qorvo
• Negative Sentiment: Quarterly revenue declined about 4.2% from the prior year, reflecting softer mobile and smartphone demand. Citi lowered its price target from $100 to $95 and kept a Neutral rating, reinforcing concerns about near-term growth. Qorvo Beats Q1 Earnings and Revenue Estimates
• Negative Sentiment: The planned merger introduces execution, regulatory, financing, and integration risks. Continued insider selling reported over the past six months may also weigh on investor confidence.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group lifted 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. Citigroup lowered their price target on shares of Qorvo from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday. Mizuho restated an "underperform" rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Wolfe Research cut shares of Qorvo from an "outperform" rating to a "peer perform" rating in a report on Friday, April 17th. Finally, Zacks Research cut shares of Qorvo from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $94.00.

Qorvo Company Profile

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.

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