Legal & General Group Plc Sells 118,163 Shares of Qorvo, Inc. $QRVO

Legal & General Group Plc lowered its stake in Qorvo, Inc. (NASDAQ:QRVO) by 28.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 303,693 shares of the semiconductor company’s stock after selling 118,163 shares during the period. Legal & General Group Plc owned approximately 0.33% of Qorvo worth $25,787,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Jericho Capital Asset Management L.P. acquired a new stake in Qorvo during the first quarter worth approximately $168,980,000. Contour Asset Management LLC bought a new position in shares of Qorvo during the first quarter worth approximately $151,698,000. LSV Asset Management lifted its holdings in Qorvo by 118.0% during the 2nd quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company’s stock worth $117,428,000 after purchasing an additional 748,589 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Qorvo by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 888,814 shares of the semiconductor company’s stock worth $64,359,000 after purchasing an additional 57,838 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Qorvo by 82.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 763,654 shares of the semiconductor company’s stock valued at $64,842,000 after purchasing an additional 345,929 shares during the period. 88.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Cfra Research upgraded Qorvo to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Qorvo in a research note on Tuesday. UBS Group raised their price target on shares of Qorvo from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Citigroup raised shares of Qorvo from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $70.00 to $105.00 in a report on Tuesday, October 28th. Finally, Cfra restated a “hold” rating and set a $122.00 target price on shares of Qorvo in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.00.

Qorvo Trading Up 1.4%

QRVO opened at $85.62 on Friday. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 37.07, a P/E/G ratio of 1.55 and a beta of 1.44. The company has a quick ratio of 2.20, a current ratio of 2.95 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $106.30. The company has a 50-day simple moving average of $89.43 and a 200 day simple moving average of $86.48.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Monday, November 3rd. The semiconductor company reported $2.22 EPS for the quarter, beating the consensus estimate of $2.03 by $0.19. Qorvo had a net margin of 5.95% and a return on equity of 13.30%. The company had revenue of $1.06 billion during the quarter. During the same quarter in the previous year, the firm posted $1.88 earnings per share. Qorvo’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 predict that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Qorvo news, SVP Paul J. Fego sold 13,612 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $5,183,010. This trade represents a 19.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

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.