Qorvo, Inc. $QRVO Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC raised its stake in Qorvo, Inc. (NASDAQ:QRVO) by 287.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 198,301 shares of the semiconductor company’s stock after buying an additional 147,098 shares during the quarter. Lazard Asset Management LLC owned approximately 0.23% of Qorvo worth $15,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its stake in Qorvo by 5.0% during the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares during the last quarter. FIL Ltd raised its position in Qorvo by 13.2% during the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock valued at $305,085,000 after buying an additional 421,224 shares during the period. Dimensional Fund Advisors LP lifted its stake in Qorvo by 16.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock valued at $168,842,000 after acquiring an additional 311,645 shares during the last quarter. LSV Asset Management grew its position in Qorvo by 2.3% in the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after acquiring an additional 34,605 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Qorvo by 20.2% during the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock worth $128,975,000 after purchasing an additional 255,068 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the senior vice president owned 71,038 shares of the company’s stock, valued at $7,103,800. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Gina Harrison sold 4,714 shares of Qorvo stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $471,400.00. Following the completion of the transaction, the vice president directly owned 24,429 shares in the company, valued at approximately $2,442,900. This represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,966,127 shares of company stock valued at $198,911,103. 0.49% of the stock is owned by company insiders.

Qorvo News Summary

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.

Analyst Ratings Changes

QRVO has been the subject of several analyst reports. Craig Hallum reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research note on Wednesday, May 6th. TD Cowen reissued a “hold” rating on shares of Qorvo in a research report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Qorvo presently has an average rating of “Hold” and an average price target of $94.00.

Qorvo Price Performance

NASDAQ QRVO opened at $89.50 on Thursday. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49. The company has a fifty day simple moving average of $94.34 and a 200 day simple moving average of $86.71. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The company has a market cap 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 (NASDAQ:QRVO) last announced its 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. The firm had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.17%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts predict that Qorvo, Inc. will post 5.83 EPS 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.