Allianz Asset Management GmbH Reduces Position in Qorvo, Inc. $QRVO

Allianz Asset Management GmbH reduced its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 10.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,065 shares of the semiconductor company’s stock after selling 57,053 shares during the period. Allianz Asset Management GmbH owned approximately 0.50% of Qorvo worth $42,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of QRVO. Jackson Creek Investment Advisors LLC acquired a new position in shares of Qorvo during the 3rd quarter worth approximately $2,236,000. Lingohr Asset Management GmbH purchased a new position in Qorvo during the third quarter worth approximately $328,000. Winnow Wealth LLC acquired a new position in Qorvo during the third quarter worth $27,000. AlphaQuest LLC grew its holdings in Qorvo by 7,233.1% in the 3rd quarter. AlphaQuest LLC now owns 8,653 shares of the semiconductor company’s stock valued at $788,000 after buying an additional 8,535 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Qorvo by 0.8% in the 3rd quarter. Arizona State Retirement System now owns 26,084 shares of the semiconductor company’s stock worth $2,376,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QRVO. JPMorgan Chase & Co. upgraded shares of Qorvo from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $92.00 to $105.00 in a research report on Tuesday, November 4th. UBS Group cut their price target on shares of Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. Cfra reaffirmed a “hold” rating and set a $122.00 price target on shares of Qorvo in a research report on Tuesday, October 28th. Benchmark reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Finally, Weiss Ratings raised Qorvo from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $93.56.

Qorvo Trading Up 2.2%

QRVO opened at $82.72 on Friday. 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 business has a fifty day simple moving average of $84.16 and a 200-day simple moving average of $87.35. The firm has a market cap of $7.67 billion, a P/E ratio of 22.79, a P/E/G ratio of 1.41 and a beta of 1.37.

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

About Qorvo

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.