Qorvo, Inc. $QRVO Shares Sold by Citigroup Inc.

Citigroup Inc. cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 81.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,817 shares of the semiconductor company’s stock after selling 480,507 shares during the period. Citigroup Inc. owned 0.12% of Qorvo worth $9,729,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Lecap Asset Management Ltd. purchased a new position in Qorvo during the third quarter worth about $2,689,000. Optimize Financial Inc acquired a new position in Qorvo during the 3rd quarter worth approximately $1,349,000. Norges Bank purchased a new position in shares of Qorvo during the 2nd quarter worth approximately $153,994,000. Seizert Capital Partners LLC acquired a new stake in shares of Qorvo in the 3rd quarter valued at approximately $2,092,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Qorvo in the 2nd quarter valued at approximately $2,758,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Performance

Shares of NASDAQ QRVO opened at $82.90 on Friday. The company has a 50-day simple moving average of $82.74 and a 200-day simple moving average of $87.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. The company has a market cap of $7.69 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.44 and a beta of 1.37. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $106.30.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data 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 business had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $984.10 million. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, equities analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on QRVO. Zacks Research raised Qorvo from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Argus upgraded shares of Qorvo to a “hold” rating in a report on Wednesday, November 5th. UBS Group reduced their price objective on shares of Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Benchmark reissued a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. Finally, KeyCorp restated a “sector weight” rating on shares of Qorvo in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.56.

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.