Bank of Nova Scotia Has $998,000 Stock Holdings in Qorvo, Inc. $QRVO

Bank of Nova Scotia decreased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 84.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,900 shares of the semiconductor company’s stock after selling 71,001 shares during the period. Bank of Nova Scotia’s holdings in Qorvo were worth $998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC raised its holdings in Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 231 shares in the last quarter. Sound Income Strategies LLC boosted its position in Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 343 shares during the last quarter. Advisory Services Network LLC bought a new position in Qorvo in the third quarter valued at approximately $36,000. V Square Quantitative Management LLC bought a new position in Qorvo in the fourth quarter valued at approximately $39,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in shares of Qorvo by 60.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group increased their price objective on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Craig Hallum reiterated a “buy” rating and issued a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. Mizuho restated an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Finally, Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus target price of $94.00.

Qorvo Trading Down 2.5%

QRVO stock opened at $89.50 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The company has a fifty day moving average price of $94.34 and a two-hundred day moving average price of $86.71. Qorvo, Inc. has a one year low of $74.92 and a one year high of $109.49. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating 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 company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities analysts anticipate that Qorvo, Inc. will post 5.83 EPS for the current year.

Insider Activity at Qorvo

In related news, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the transaction, the chief executive officer owned 319,880 shares in the company, valued at approximately $32,115,952. This represents a 15.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,966,127 shares of company stock worth $198,911,103. 0.49% of the stock is currently owned by corporate insiders.

Qorvo News Roundup

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.

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.