United Services Automobile Association Makes New Investment in Qorvo, Inc. $QRVO

Key Points

• United Services Automobile Association has purchased a new position in Qorvo, Inc. (NASDAQ:QRVO), acquiring 6,151 shares valued at approximately $440,000.
• Qorvo reported $0.92 EPS for the last quarter, exceeding analysts' expectations and having a revenue of $818.80 million, though this represents a 7.7% year-over-year decline.
• Institutional investors own 88.57% of Qorvo's stock, indicating significant institutional interest in the semiconductor company.

United Services Automobile Association purchased a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,151 shares of the semiconductor company's stock, valued at approximately $440,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fred Alger Management LLC acquired a new stake in shares of Qorvo in the first quarter worth about $264,000. Jones Financial Companies Lllp lifted its position in shares of Qorvo by 440.1% during the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company's stock worth $589,000 after purchasing an additional 6,628 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of Qorvo during the 1st quarter worth about $168,980,000. Alliancebernstein L.P. lifted its position in shares of Qorvo by 136.1% during the 1st quarter. Alliancebernstein L.P. now owns 270,564 shares of the semiconductor company's stock worth $19,592,000 after purchasing an additional 155,987 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of Qorvo during the 1st quarter worth about $27,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Trading Down 3.2%

QRVO stock opened at $89.19 on Thursday. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $108.44. The firm has a market cap of $8.26 billion, a P/E ratio of 104.93, a P/E/G ratio of 1.80 and a beta of 1.39. The business's 50 day moving average is $88.52 and its 200-day moving average is $77.84. The company has a current ratio of 2.81, a quick ratio of 2.01 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results 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 business had revenue of $818.80 million for 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%.Qorvo's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Equities analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QRVO has been the subject of several research analyst reports. UBS Group set a $100.00 price objective on Qorvo and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Barclays upped their price target on Qorvo from $70.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Loop Capital upped their price target on Qorvo from $75.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Stifel Nicolaus set a $88.00 price target on Qorvo and gave the company a "hold" rating in a report on Wednesday, July 30th. Finally, Citigroup reiterated a "sell" rating on shares of Qorvo in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $95.35.

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.

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