OMERS ADMINISTRATION Corp Cuts Holdings in Qorvo, Inc. $QRVO

Key Points

• OMERS ADMINISTRATION Corp significantly reduced its stake in Qorvo, Inc. by 74.2%, downsizing to 4,039 shares after selling 11,600 shares in the first quarter.
• Qorvo reported a quarterly EPS of $0.92, beating estimates by $0.30, but saw a 7.7% year-over-year decline in revenue.
• Analysts have raised price targets for Qorvo, with Needham & Company increasing theirs from $90.00 to $104.00 while maintaining a "buy" rating.

OMERS ADMINISTRATION Corp lessened its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 74.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,039 shares of the semiconductor company's stock after selling 11,600 shares during the period. OMERS ADMINISTRATION Corp's holdings in Qorvo were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Comerica Bank lifted its stake in Qorvo by 37.7% during the fourth quarter. Comerica Bank now owns 34,412 shares of the semiconductor company's stock worth $2,406,000 after purchasing an additional 9,427 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Qorvo during the 4th quarter valued at approximately $867,000. BNP Paribas Financial Markets lifted its holdings in shares of Qorvo by 26.9% in the 4th quarter. BNP Paribas Financial Markets now owns 443,673 shares of the semiconductor company's stock worth $31,026,000 after purchasing an additional 93,954 shares during the last quarter. Cetera Investment Advisers raised its stake in Qorvo by 22.3% during the 4th quarter. Cetera Investment Advisers now owns 10,364 shares of the semiconductor company's stock valued at $725,000 after acquiring an additional 1,892 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in shares of Qorvo during the fourth quarter valued at $582,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on QRVO shares. The Goldman Sachs Group initiated coverage on Qorvo in a research report on Thursday, July 10th. They issued a "neutral" rating and a $90.00 price objective on the stock. 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. Loop Capital boosted their price objective on shares of Qorvo from $75.00 to $90.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Susquehanna restated a "neutral" rating and set a $95.00 price objective (up previously from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Finally, Barclays raised their target price on shares of Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Five equities research 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, the company presently has an average rating of "Hold" and an average target price of $95.35.

Qorvo Trading Down 2.1%

Shares of NASDAQ:QRVO traded down $1.97 during midday trading on Monday, reaching $90.92. The company had a trading volume of 1,145,536 shares, compared to its average volume of 2,314,039. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 106.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.39. 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 fifty day simple moving average of $88.25 and a two-hundred day simple moving average of $77.55. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year 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 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 analyst estimates of $775.61 million. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.The company's revenue was down 7.7% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Research analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Qorvo Company Profile

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.