Engineers Gate Manager LP Sells 6,900 Shares of Qorvo, Inc. $QRVO

Engineers Gate Manager LP cut its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,095 shares of the semiconductor company’s stock after selling 6,900 shares during the period. Engineers Gate Manager LP’s holdings in Qorvo were worth $5,139,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in Qorvo by 801.4% in the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after buying an additional 1,571,303 shares in the last quarter. Allianz Asset Management GmbH increased its position in Qorvo by 12.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 825,960 shares of the semiconductor company’s stock worth $77,037,000 after buying an additional 89,378 shares during the period. LSV Asset Management lifted 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. Amundi boosted its position in shares of Qorvo by 197.2% in the first quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock valued at $59,780,000 after acquiring an additional 512,475 shares during the period. Finally, Fieldview Capital Management LLC boosted 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 acquiring an additional 20,718 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo News Summary

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Skyworks CEO Phil Brace said the approximately $22 billion merger with Qorvo has entered its final stages and is expected to close by year-end. The comments reduced perceived regulatory and execution risk and helped drive renewed buying in Qorvo. Skyworks Solutions Stock Eyes Best Weekly Rally Since 2009
• Positive Sentiment: Reports indicated that Qorvo gained alongside Skyworks after the merger update, suggesting investors are assigning a higher probability to the transaction’s completion and potential strategic benefits from combining the two chipmakers. Skyworks Rises as Qorvo Merger Nears Completion
• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations, with earnings of $1.64 per share versus a $1.11 consensus estimate and revenue of $784.8 million versus $743.3 million expected. The earnings beat reinforces the company’s operating momentum, although year-over-year revenue declined. Qorvo Stock Surges Past 52-Week High
• Neutral Sentiment: Qorvo reached a new one-year high, increasing the possibility of profit-taking after the recent rally. Trading volume was also elevated, indicating strong investor attention but potentially greater short-term volatility.
• Negative Sentiment: Some analysts remain cautious, with a reported price target near $94—well below the current trading range. Options activity also reportedly points to a possible pullback, creating downside risk if merger optimism fades. Skyworks Stock Hits a New 52-Week High

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, July 29th. Citigroup lowered their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, UBS Group upped their target price on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and an average price target of $94.00.

Qorvo Trading Up 3.8%

Shares of QRVO stock opened at $116.65 on Friday. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $120.52. The stock’s fifty day moving average price is $93.86 and its two-hundred day moving average price is $90.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. The company has a market cap of $10.29 billion, a PE ratio of 27.07, a P/E/G ratio of 1.98 and a beta of 1.45.

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

Insider Activity

In other news, SVP Frank P. Stewart sold 8,279 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.72, for a total value of $784,186.88. Following the sale, the senior vice president directly owned 43,069 shares in the company, valued at approximately $4,079,495.68. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Steven E. Creviston sold 4,810 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total transaction of $485,184.70. Following the transaction, the senior vice president owned 119,451 shares of the company’s stock, valued at approximately $12,049,022.37. This represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 54,999 shares of company stock valued at $5,458,714. Corporate insiders own 0.49% of the company’s stock.

Qorvo Profile

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.