The Manufacturers Life Insurance Company Purchases 475,444 Shares of Qorvo, Inc. $QRVO

Key Points

• The Manufacturers Life Insurance Company significantly increased its holdings in Qorvo, Inc. by acquiring 475,444 shares, bringing their total ownership to approximately 498,122 shares valued at $36.07 million.
• Qorvo's recent financial performance showed an earnings per share (EPS) of $0.92 for the last quarter, exceeding estimates and reporting revenue of $818.80 million, though it indicated a 7.7% decline year-over-year.
• Analysts have differing views on Qorvo's stock, with five issuing a "Buy" rating and an average target price of approximately $95.35, signaling mixed expectations for its market performance.

The Manufacturers Life Insurance Company grew its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 2,096.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 498,122 shares of the semiconductor company's stock after purchasing an additional 475,444 shares during the period. The Manufacturers Life Insurance Company owned about 0.53% of Qorvo worth $36,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock valued at $251,577,000 after purchasing an additional 1,816,811 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Qorvo by 31.3% in the fourth quarter. Woodline Partners LP now owns 968,103 shares of the semiconductor company's stock valued at $67,699,000 after purchasing an additional 230,710 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Qorvo by 7.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 888,814 shares of the semiconductor company's stock valued at $64,359,000 after purchasing an additional 57,838 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Qorvo by 20.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,076 shares of the semiconductor company's stock valued at $47,698,000 after buying an additional 117,053 shares during the period. Finally, LSV Asset Management increased its holdings in Qorvo by 114.4% during the first quarter. LSV Asset Management now owns 634,381 shares of the semiconductor company's stock worth $45,936,000 after buying an additional 338,521 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Stock Performance

NASDAQ:QRVO traded up $1.32 on Thursday, reaching $92.20. 1,434,687 shares of the company's stock were exchanged, compared to its average volume of 2,328,853. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 108.47, a P/E/G ratio of 1.77 and a beta of 1.39. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $109.78. The stock has a fifty day simple moving average of $87.88 and a 200-day simple moving average of $77.35.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share 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 net margin of 2.21% and a return on equity of 12.63%. The company's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business earned $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, sell-side analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Barclays raised their price objective 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. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Mizuho set a $84.00 price objective on shares of Qorvo and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Stifel Nicolaus set a $88.00 price objective on shares of Qorvo and gave the stock a "hold" rating in a report on Wednesday, July 30th. Finally, UBS Group set a $100.00 price objective on shares of Qorvo and gave the stock a "neutral" 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 assigned a Sell rating to the company. According to data from MarketBeat, Qorvo has a consensus rating of "Hold" and an average target price 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.