Lazard Asset Management LLC Buys 147,098 Shares of Qorvo, Inc. $QRVO

Lazard Asset Management LLC lifted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 287.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 198,301 shares of the semiconductor company’s stock after acquiring an additional 147,098 shares during the period. Lazard Asset Management LLC’s holdings in Qorvo were worth $15,348,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management increased its position 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 valued at $131,452,000 after purchasing an additional 34,605 shares during the period. M&T Bank Corp lifted its position in Qorvo by 3,397.3% in the fourth quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock worth $12,691,000 after purchasing an additional 145,879 shares during the period. Fieldview Capital Management LLC boosted its stake in Qorvo by 570.1% during the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after buying an additional 20,718 shares in the last quarter. Credit Industriel ET Commercial acquired a new stake in Qorvo during the fourth quarter worth $5,223,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Qorvo by 241.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 20,417 shares of the semiconductor company’s stock valued at $1,725,000 after buying an additional 14,429 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Trading Down 2.5%

Shares of QRVO stock opened at $89.50 on Thursday. The company has a market capitalization of $7.90 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.44 and a beta of 1.44. Qorvo, Inc. has a 12-month low of $74.92 and a 12-month high of $109.49. 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 50-day moving average price of $94.34 and a 200 day moving average price of $86.71.

Qorvo (NASDAQ:QRVO) last issued 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 firm had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.17%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts forecast that Qorvo, Inc. will post 5.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter A. Feld sold 1,900,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the transaction, the director owned 5,611,526 shares in the company, valued at $567,886,431.20. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the transaction, the chief executive officer owned 319,880 shares in the company, valued at $32,115,952. The trade was a 15.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,966,127 shares of company stock valued at $198,911,103 over the last quarter. 0.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. UBS Group upped their target price on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Mizuho restated an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Three equities 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, the stock has a consensus rating of “Hold” and an average price target of $94.00.

Trending Headlines about Qorvo

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.