Truist Financial Corp Decreases Stake in Qorvo, Inc. $QRVO

Truist Financial Corp reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 13,262 shares of the semiconductor company’s stock after selling 276 shares during the period. Truist Financial Corp’s holdings in Qorvo were worth $1,126,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of QRVO. GAMMA Investing LLC raised its position in Qorvo by 99.1% during the 1st quarter. GAMMA Investing LLC now owns 3,665 shares of the semiconductor company’s stock valued at $265,000 after purchasing an additional 1,824 shares during the last quarter. SG Americas Securities LLC raised its position in Qorvo by 240.5% during the 1st quarter. SG Americas Securities LLC now owns 9,780 shares of the semiconductor company’s stock valued at $708,000 after purchasing an additional 6,908 shares during the last quarter. CX Institutional raised its position in Qorvo by 18.0% during the 1st quarter. CX Institutional now owns 3,787 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 579 shares during the last quarter. Simon Quick Advisors LLC bought a new position in Qorvo during the 1st quarter valued at approximately $261,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Qorvo by 10.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company’s stock valued at $547,000 after purchasing an additional 717 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Stock Performance

Qorvo stock opened at $83.24 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $7.71 billion, a P/E ratio of 97.93, a PEG ratio of 1.62 and a beta of 1.42. The stock’s 50 day moving average is $90.13 and its 200 day moving average is $80.68. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $107.33.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.30. The company had revenue of $818.80 million for the quarter, compared to the consensus estimate of $775.61 million. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, equities research analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QRVO has been the subject of a number of recent analyst reports. Wall Street Zen raised Qorvo from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Susquehanna reaffirmed a “neutral” rating and set a $95.00 price target (up previously from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Loop Capital upped their price target on Qorvo from $75.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, July 30th. Craig Hallum reaffirmed a “buy” rating on shares of Qorvo in a research report on Wednesday, July 30th. Finally, Barclays upped their target price on Qorvo from $70.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $95.35.

Insider Buying and Selling at Qorvo

In related news, SVP Paul J. Fego sold 13,612 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $1,293,140.00. Following the sale, the senior vice president owned 54,558 shares in the company, valued at $5,183,010. This represents a 19.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

Qorvo Company 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.