Victory Capital Management Inc. Decreases Stock Holdings in Qorvo, Inc. $QRVO

Victory Capital Management Inc. lowered its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 400,601 shares of the semiconductor company’s stock after selling 10,918 shares during the period. Victory Capital Management Inc. owned about 0.43% of Qorvo worth $36,487,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of QRVO. Sage Rhino Capital LLC boosted its holdings in shares of Qorvo by 4.4% in the 3rd quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock worth $342,000 after buying an additional 160 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Qorvo by 4.5% during the 3rd quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company’s stock worth $377,000 after purchasing an additional 177 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of Qorvo by 1.1% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 18,400 shares of the semiconductor company’s stock worth $1,676,000 after purchasing an additional 200 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of Qorvo by 7.6% in the 3rd quarter. Resonant Capital Advisors LLC now owns 2,881 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 204 shares during the period. Finally, Clearstead Advisors LLC lifted its stake in Qorvo by 93.3% in the third quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ QRVO opened at $77.64 on Monday. The stock’s 50-day moving average is $82.19 and its 200 day moving average is $86.68. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.35 and a beta of 1.35. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $106.30. The company has a current ratio of 3.67, a quick ratio of 2.89 and a debt-to-equity ratio of 0.42.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.24. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The company had revenue of $993.00 million during the quarter, compared to analyst estimates of $984.10 million. During the same quarter in the previous year, the company posted $1.61 EPS. Qorvo’s revenue for the quarter was up 8.4% on a year-over-year basis. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QRVO. KeyCorp restated a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Zacks Research upgraded shares of Qorvo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. Craig Hallum lowered their target price on shares of Qorvo from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Finally, Stifel Nicolaus dropped their target price on Qorvo from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $93.88.

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.