Panagora Asset Management Inc. Reduces Position in Qorvo, Inc. $QRVO

Panagora Asset Management Inc. decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,961 shares of the semiconductor company’s stock after selling 16,866 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.19% of Qorvo worth $15,196,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in shares of Qorvo during the first quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Qorvo by 166.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 485 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 303 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Qorvo during the 2nd quarter worth $43,000. Parkside Financial Bank & Trust raised its position in Qorvo by 214.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 644 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 439 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Qorvo in the 1st quarter worth $47,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QRVO. Citigroup upgraded Qorvo from a “sell” rating to a “neutral” rating and raised their price target for the company from $70.00 to $105.00 in a research note on Tuesday, October 28th. Morgan Stanley set a $110.00 target price on shares of Qorvo and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Piper Sandler lowered shares of Qorvo from an “overweight” rating to a “hold” rating and set a $110.00 price target for the company. in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Qorvo in a research note on Monday. Finally, Cfra Research raised shares of Qorvo to a “hold” rating in a report on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Insider Buying and Selling at Qorvo

In related news, SVP Paul J. Fego sold 13,612 shares of Qorvo stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $95.00, for a total value of $1,293,140.00. Following the completion of the sale, the senior vice president directly owned 54,558 shares in the company, valued at $5,183,010. This trade represents a 19.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO stock opened at $88.25 on Wednesday. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $106.30. The business’s fifty day simple moving average is $88.98 and its 200-day simple moving average is $86.75. The company has a current ratio of 2.95, a quick ratio of 2.20 and a debt-to-equity ratio of 0.44. The company has a market cap of $8.15 billion, a PE ratio of 38.20, a PEG ratio of 1.55 and a beta of 1.37.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Monday, November 3rd. The semiconductor company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.19. Qorvo had a return on equity of 13.30% and a net margin of 5.95%.The firm had revenue of $1.06 billion for the quarter. During the same quarter last year, the firm earned $1.88 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. Analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Qorvo Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.