Qorvo, Inc. $QRVO Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC reduced its stake in Qorvo, Inc. by 66.9% in the first quarter, retaining 41,767 shares valued at approximately $3.02 million.
• Multiple analysts have raised their price targets for Qorvo, with Benchmark increasing it from $95 to $125, contributing to a consensus target price of $95.35.
• Qorvo reported a quarterly earnings surprise, delivering $0.92 per share versus estimates of $0.62, along with revenues of $818.8 million exceeding expectations.

Jump Financial LLC trimmed its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 66.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,767 shares of the semiconductor company's stock after selling 84,608 shares during the period. Jump Financial LLC's holdings in Qorvo were worth $3,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of QRVO. Wealth Enhancement Advisory Services LLC increased its stake in shares of Qorvo by 10.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company's stock worth $547,000 after purchasing an additional 717 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Qorvo during the 1st quarter worth approximately $963,000. Allspring Global Investments Holdings LLC increased its stake in shares of Qorvo by 36.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,576 shares of the semiconductor company's stock worth $2,786,000 after purchasing an additional 10,209 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Qorvo by 22.3% during the 4th quarter. Cetera Investment Advisers now owns 10,364 shares of the semiconductor company's stock worth $725,000 after purchasing an additional 1,892 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Qorvo by 99.1% during the 1st quarter. GAMMA Investing LLC now owns 3,665 shares of the semiconductor company's stock worth $265,000 after purchasing an additional 1,824 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QRVO. Stifel Nicolaus set a $88.00 price objective on shares of Qorvo and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Susquehanna reiterated a "neutral" rating and issued a $95.00 price target (up from $90.00) on shares of Qorvo in a report on Wednesday, July 30th. Mizuho set a $84.00 price objective on shares of Qorvo and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Piper Sandler boosted their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, UBS Group set a $100.00 price objective on shares of Qorvo and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Five 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. Based on data from MarketBeat.com, Qorvo has an average rating of "Hold" and an average price target of $95.35.

Qorvo Stock Down 0.9%

QRVO stock traded down $0.79 during trading on Friday, reaching $90.70. The stock had a trading volume of 1,451,497 shares, compared to its average volume of 1,510,900. 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 $8.40 billion, a P/E ratio of 106.71, a PEG ratio of 1.77 and a beta of 1.35. The firm has a fifty day moving average price of $87.35 and a 200 day moving average price of $77.06.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $775.61 million. During the same quarter in the previous year, the business posted $0.87 EPS. The firm's revenue 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, equities analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

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.