Nissay Asset Management Corp Japan ADV Cuts Stock Holdings in Qorvo, Inc. $QRVO

Key Points

• Nissay Asset Management Corp Japan ADV decreased its holdings in Qorvo, Inc. by 32.0%, now owning 21,992 shares valued at approximately $1.59 million.
• Several institutional investors, including Jericho Capital and Contour Asset Management, have recently increased their positions in Qorvo, reflecting a strong institutional interest with 88.57% of shares owned by such investors.
• Analysts have mixed ratings for Qorvo, with a consensus target price of $95.35, while recent earnings results exceeded expectations with $0.92 earnings per share and revenue of $818.80 million.

Nissay Asset Management Corp Japan ADV lessened its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,992 shares of the semiconductor company's stock after selling 10,352 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Qorvo were worth $1,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in Qorvo by 34.6% during the first quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 170 shares during the period. Brooklyn Investment Group lifted its position in Qorvo by 33.1% during the first quarter. Brooklyn Investment Group now owns 1,170 shares of the semiconductor company's stock valued at $85,000 after purchasing an additional 291 shares during the period. Larson Financial Group LLC lifted its position in Qorvo by 222.6% during the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 296 shares during the period. City Holding Co. bought a new position in Qorvo during the first quarter valued at approximately $25,000. Finally, Banque Transatlantique SA bought a new position in Qorvo during the first quarter valued at approximately $27,000. Institutional investors own 88.57% of the company's stock.

Qorvo Price Performance

Shares of NASDAQ QRVO traded down $0.86 during midday trading on Friday, reaching $86.81. The stock had a trading volume of 2,045,327 shares, compared to its average volume of 1,511,974. The stock has a 50-day moving average of $88.64 and a 200-day moving average of $78.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 102.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $108.44.

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, topping analysts' consensus estimates of $0.62 by $0.30. The firm had revenue of $818.80 million during the quarter, compared to analysts' expectations of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, research analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on QRVO. Needham & Company LLC increased their price objective on shares of Qorvo from $90.00 to $104.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Citigroup restated a "sell" rating on shares of Qorvo in a research report on Wednesday. UBS Group set a $100.00 price objective on shares of Qorvo and gave the company a "neutral" rating in a research report on Wednesday, July 30th. TD Cowen increased their price target on shares of Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, Loop Capital increased their price target 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. Five 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, Qorvo presently has an average rating of "Hold" and a consensus price target 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.