First Trust Advisors LP Cuts Stock Holdings in Qorvo, Inc. $QRVO

First Trust Advisors LP lowered its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 23.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,358 shares of the semiconductor company’s stock after selling 77,265 shares during the quarter. First Trust Advisors LP’s holdings in Qorvo were worth $19,997,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management grew its holdings in shares of Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after buying an additional 34,605 shares in the last quarter. M&T Bank Corp raised its position in shares of Qorvo by 3,397.3% in the fourth quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock valued at $12,691,000 after buying an additional 145,879 shares during the last quarter. Fieldview Capital Management LLC raised its position in shares of Qorvo by 570.1% in the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock valued at $2,058,000 after buying an additional 20,718 shares during the last quarter. Credit Industriel ET Commercial purchased a new position in shares of Qorvo in the fourth quarter worth about $5,223,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Qorvo by 241.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 20,417 shares of the semiconductor company’s stock worth $1,725,000 after buying an additional 14,429 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on QRVO. Wall Street Zen lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Citigroup decreased their target price on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Craig Hallum restated a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.00.

Qorvo Stock Down 2.5%

NASDAQ QRVO opened at $89.50 on Thursday. The business’s fifty day simple moving average is $94.34 and its 200-day simple moving average is $86.71. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The firm has a market cap of $7.90 billion, a PE ratio of 20.77, a P/E/G ratio of 1.44 and a beta of 1.44. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.17%. The firm had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Qorvo’s quarterly revenue was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts anticipate that Qorvo, Inc. will post 5.83 earnings per share for the current year.

Insider Activity

In other news, SVP Paul J. Fego sold 2,500 shares of Qorvo stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the senior vice president owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gina Harrison sold 4,714 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the transaction, the vice president owned 24,429 shares in the company, valued at $2,442,900. This represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,966,127 shares of company stock worth $198,911,103. Corporate insiders own 0.49% of the company’s stock.

Key Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo reported adjusted earnings of $1.64 per share, well above the $1.11 consensus estimate, while revenue of approximately $784.8 million also exceeded expectations. Growth in High-Performance Analog products and cost controls helped improve profitability despite weaker smartphone-related sales. Qorvo Beats Q1 Earnings Estimates Despite Lower Year-over-Year Revenues
• Positive Sentiment: The company raised or reaffirmed its fiscal 2027 outlook at approximately $7.00 in EPS, above the roughly $6.69 analyst expectation, supporting the longer-term earnings case.
• Positive Sentiment: Qorvo and Skyworks unveiled a leadership team for their planned combination. The transaction could create scale and cost synergies, while regulatory approvals are reportedly progressing. Skyworks and Qorvo Unveil Leadership Team for Planned Merger
• Neutral Sentiment: Analysts broadly acknowledged the solid quarter but remain on the sidelines until the Skyworks merger closes. UBS raised its target to $96 while maintaining Hold, and Susquehanna reiterated Hold with an $80 target, citing valuation concerns. UBS Maintains Hold on Qorvo
• Negative Sentiment: Quarterly revenue declined about 4.2% from the prior year, reflecting softer mobile and smartphone demand. Citi lowered its price target from $100 to $95 and kept a Neutral rating, reinforcing concerns about near-term growth. Qorvo Beats Q1 Earnings and Revenue Estimates
• Negative Sentiment: The planned merger introduces execution, regulatory, financing, and integration risks. Continued insider selling reported over the past six months may also weigh on investor confidence.

Qorvo Company 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.