The Manufacturers Life Insurance Company Makes New Investment in Qorvo, Inc. $QRVO

The Manufacturers Life Insurance Company bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 9,518 shares of the semiconductor company’s stock, valued at approximately $888,000.

A number of other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in 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 buying an additional 6,628 shares during the period. EverSource Wealth Advisors LLC increased its position in Qorvo by 158.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 1,301 shares during the period. First Trust Advisors LP increased its position in Qorvo by 56.5% in the 2nd quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock valued at $12,100,000 after acquiring an additional 51,475 shares during the period. Marshall Wace LLP bought a new position in shares of Qorvo during the second quarter valued at $428,000. Finally, Cerity Partners LLC acquired a new position in shares of Qorvo during the second quarter worth $327,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QRVO has been the topic of several analyst reports. UBS Group boosted their price objective on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Citigroup reduced their price target on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, TD Cowen reissued a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Qorvo currently has an average rating of “Hold” and an average target price of $94.00.

Insider Transactions at Qorvo

In other news, CFO Grant Brown sold 5,179 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $504,952.50. Following the transaction, the chief financial officer directly owned 49,268 shares of the company’s stock, valued at $4,803,630. The trade was a 9.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Philip Chesley sold 5,487 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $97.50, for a total value of $534,982.50. Following the sale, the senior vice president owned 44,021 shares in the company, valued at approximately $4,292,047.50. The trade was a 11.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 54,999 shares of company stock worth $5,458,714. Corporate insiders own 0.49% of the company’s stock.

Qorvo Trading Up 2.5%

QRVO opened at $102.84 on Friday. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49. The company has a fifty day moving average of $92.09 and a 200-day moving average of $89.47. The stock has a market cap of $9.07 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.81 and a beta of 1.45. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.53. The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. Qorvo’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts predict that Qorvo, Inc. will post 6.3 EPS for the current year.

Key Stories Impacting Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations: earnings per share came in at $1.64 versus the $1.11 consensus estimate, while revenue of roughly $784.8 million surpassed forecasts of $743.3 million. The earnings beat provides support for the stock, although revenue declined 4.2% year over year.
• Positive Sentiment: Institutional ownership remains high at approximately 88.6%, with major investors including BlackRock, California State Teachers’ Retirement System and Bank of America reportedly adding or initiating sizable positions. Such buying can reinforce investor confidence and provide demand for QRVO shares.
• Positive Sentiment: Qorvo’s exposure to radio-frequency solutions for drones, satellite communications and industrial IoT may offer longer-term growth opportunities in bandwidth, connectivity and power-efficiency markets.
• Neutral Sentiment: Brokerages maintain an average “Hold” recommendation, with three Buy ratings, fourteen Holds and one Sell. The average price target is $94, below recent trading levels, suggesting analysts see limited near-term upside despite the earnings beat. Qorvo Given Average Recommendation of Hold
• Neutral Sentiment: Skyworks Solutions’ extension of exchange offers for Qorvo notes keeps the companies’ merger plans in focus. The potential transaction could be a catalyst, but the extension also leaves timing, financing and completion risks unresolved.
• Negative Sentiment: Several executives recently sold shares. CEO Robert Bruggeworth sold 28,744 shares for approximately $2.9 million, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. The combined sales total roughly $4.4 million and could weigh on sentiment, though they may reflect routine diversification rather than a change in business outlook. Qorvo Insider Selling

Qorvo Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.