The Manufacturers Life Insurance Company Raises Position in 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 boosted its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 2,096.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 498,122 shares of the semiconductor company's stock after acquiring an additional 475,444 shares during the period. The Manufacturers Life Insurance Company owned 0.53% of Qorvo worth $36,069,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. City Holding Co. bought a new stake in Qorvo in the 1st quarter worth $25,000. Larson Financial Group LLC grew its holdings in Qorvo by 222.6% in the 1st quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 296 shares during the last quarter. Curat Global LLC bought a new stake in Qorvo in the 1st quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Qorvo in the 1st quarter worth $34,000. Finally, SVB Wealth LLC bought a new stake in Qorvo in the 1st quarter worth $47,000. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Up 0.7%

NASDAQ QRVO traded up $0.69 during trading hours on Friday, reaching $92.89. 973,373 shares of the company's stock traded hands, compared to its average volume of 1,295,816. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $108.44. The firm has a market cap of $8.61 billion, a PE ratio of 109.28, a PEG ratio of 1.81 and a beta of 1.39. The firm has a 50-day simple moving average of $88.25 and a 200 day simple moving average of $77.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating 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 company had revenue of $818.80 million during the quarter, compared to analysts' expectations of $775.61 million. During the same period last year, the company posted $0.87 EPS. Qorvo's revenue was down 7.7% on a year-over-year basis. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Sell-side analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Qorvo in a research note on Thursday, July 10th. They set a "neutral" rating and a $90.00 target price on the stock. Loop Capital lifted their target price on shares of Qorvo from $75.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, July 30th. Citigroup reaffirmed a "sell" rating on shares of Qorvo in a research note on Tuesday, June 10th. Needham & Company LLC lifted their target price on shares of Qorvo from $90.00 to $104.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Craig Hallum reaffirmed a "buy" rating on shares of Qorvo in a research note on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Qorvo has an average rating of "Hold" and a consensus 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.