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

Engineers Gate Manager LP reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,095 shares of the semiconductor company’s stock after selling 6,900 shares during the quarter. Engineers Gate Manager LP owned about 0.06% of Qorvo worth $5,139,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Fred Alger Management LLC grew its holdings in Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 160 shares during the period. Wedmont Private Capital raised its holdings in Qorvo by 1.6% in the second quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company’s stock worth $879,000 after purchasing an additional 162 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in Qorvo by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 167 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Qorvo by 14.6% in the 4th quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 189 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QRVO has been the topic of several research analyst reports. Citigroup dropped 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. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Wall Street Zen raised Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. TD Cowen reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Finally, UBS Group boosted their price objective on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.00.

Key Qorvo News

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

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Frank P. Stewart sold 8,279 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $94.72, for a total transaction of $784,186.88. Following the transaction, the senior vice president owned 43,069 shares of the company’s stock, valued at $4,079,495.68. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert A. Bruggeworth sold 28,744 shares of the business’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 value of $2,899,407.28. Following the transaction, the chief executive officer directly owned 325,546 shares in the company, valued at $32,837,825.02. The trade was a 8.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,999 shares of company stock valued at $5,458,714 in the last ninety days. Insiders own 0.49% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO opened at $116.65 on Friday. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.98 and a beta of 1.45. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $120.52. The firm has a fifty day simple moving average of $93.86 and a 200 day simple moving average of $90.35. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

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

Qorvo Company 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.