Victory Capital Management Inc. Sells 10,918 Shares of Qorvo, Inc. $QRVO

Victory Capital Management Inc. decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,601 shares of the semiconductor company’s stock after selling 10,918 shares during the quarter. Victory Capital Management Inc.’s holdings in Qorvo were worth $36,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Qorvo by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after buying an additional 100,058 shares in the last quarter. State Street Corp increased its stake in shares of Qorvo by 5.0% in the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock worth $314,516,000 after acquiring an additional 175,031 shares in the last quarter. Norges Bank purchased a new position in Qorvo during the 2nd quarter valued at about $153,994,000. LSV Asset Management boosted its stake in Qorvo by 10.0% during the third quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company’s stock worth $138,520,000 after acquiring an additional 137,886 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Qorvo by 20.2% during the second quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock worth $128,975,000 after acquiring an additional 255,068 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on QRVO. Craig Hallum decreased their target price on shares of Qorvo from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a research report on Wednesday, January 28th. UBS Group dropped their target price on Qorvo from $108.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Morgan Stanley set a $84.00 price target on Qorvo in a report on Wednesday, January 28th. Finally, Zacks Research raised shares of Qorvo from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $93.88.

Qorvo Price Performance

NASDAQ QRVO opened at $77.64 on Monday. The company has a 50-day moving average price of $82.19 and a 200-day moving average price of $86.68. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $106.30. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.20 billion, a P/E ratio of 21.39, a PEG ratio of 1.35 and a beta of 1.35.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.24. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The company had revenue of $993.00 million for the quarter, compared to the consensus estimate of $984.10 million. During the same quarter last year, the firm posted $1.61 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. Equities research analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

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.