Qorvo, Inc. $QRVO Holdings Decreased by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Qorvo, Inc. by 7.9%, selling 63,812 shares and owning approximately 742,271 shares valued at $53,748,000.
• Multiple institutional investors modified their holdings in Qorvo during the 4th quarter, with notable increases from Dimensional Fund Advisors and Comerica Bank.
• Qorvo's earnings report revealed a $0.92 EPS and revenue of $818.80 million, exceeding expectations, although revenue fell 7.7% year-over-year.

Rafferty Asset Management LLC lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 742,271 shares of the semiconductor company's stock after selling 63,812 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.79% of Qorvo worth $53,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Qorvo by 10.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company's stock worth $547,000 after buying an additional 717 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Qorvo during the first quarter worth approximately $963,000. Allspring Global Investments Holdings LLC grew its position in shares of Qorvo by 36.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 38,576 shares of the semiconductor company's stock worth $2,786,000 after buying an additional 10,209 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Qorvo by 22.3% during the fourth quarter. Cetera Investment Advisers now owns 10,364 shares of the semiconductor company's stock worth $725,000 after buying an additional 1,892 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Qorvo by 99.1% during the first quarter. GAMMA Investing LLC now owns 3,665 shares of the semiconductor company's stock worth $265,000 after buying an additional 1,824 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Wall Street Analyst Weigh In

QRVO has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $88.00 price target on shares of Qorvo and gave the stock a "hold" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Qorvo in a report on Thursday, July 10th. They issued a "neutral" rating and a $90.00 price objective for the company. Benchmark lifted their price objective on shares of Qorvo from $95.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Piper Sandler lifted their price objective on shares of Qorvo from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Needham & Company LLC lifted their price objective on shares of Qorvo from $90.00 to $104.00 and gave the stock a "buy" rating in a report 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $95.35.

Qorvo Stock Performance

Shares of QRVO traded down $0.79 during midday trading on Friday, hitting $90.70. 1,451,497 shares of the stock traded hands, 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 firm has a market capitalization of $8.40 billion, a PE ratio of 106.71, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. 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 business's 50 day moving average price is $87.35 and its two-hundred day moving average price is $77.06.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.30. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The company had revenue of $818.80 million during the quarter, compared to the consensus estimate of $775.61 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Equities research analysts predict that Qorvo, Inc. will post 4.09 EPS for the current fiscal 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.