Prudential Financial Inc. Raises Stock Position in Qorvo, Inc. $QRVO

Prudential Financial Inc. lifted its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 18.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 106,809 shares of the semiconductor company’s stock after buying an additional 16,401 shares during the period. Prudential Financial Inc.’s holdings in Qorvo were worth $9,069,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Qorvo by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 897,678 shares of the semiconductor company’s stock worth $76,222,000 after buying an additional 8,864 shares during the period. American Century Companies Inc. lifted its position in Qorvo by 187.7% during the 2nd quarter. American Century Companies Inc. now owns 72,776 shares of the semiconductor company’s stock worth $6,179,000 after acquiring an additional 47,476 shares in the last quarter. Rhumbline Advisers lifted its position in Qorvo by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 234,092 shares of the semiconductor company’s stock worth $19,877,000 after acquiring an additional 2,513 shares in the last quarter. Entropy Technologies LP purchased a new position in Qorvo in the 2nd quarter worth approximately $1,165,000. Finally, Magnetar Financial LLC acquired a new stake in Qorvo in the second quarter valued at approximately $5,806,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Stock Performance

Qorvo stock opened at $85.91 on Friday. The company has a market cap of $7.94 billion, a PE ratio of 37.19, a P/E/G ratio of 1.55 and a beta of 1.44. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $106.30. The company has a fifty day moving average price of $89.31 and a two-hundred day moving average price of $86.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.95 and a quick ratio of 2.20.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Monday, November 3rd. The semiconductor company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.19. Qorvo had a net margin of 5.95% and a return on equity of 13.30%. The business had revenue of $1.06 billion during the quarter. During the same period in the prior year, the company earned $1.88 EPS. Qorvo’s quarterly revenue was up 1.1% on a year-over-year basis. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. Research analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on QRVO shares. Morgan Stanley set a $110.00 target price on shares of Qorvo and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Cfra reiterated a “hold” rating and issued a $122.00 price objective on shares of Qorvo in a report on Tuesday, October 28th. Mizuho upgraded Qorvo from an “underperform” rating to a “neutral” rating and raised their target price for the company from $75.00 to $93.00 in a research note on Tuesday, November 11th. UBS Group lifted their target price on Qorvo from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Argus raised Qorvo to a “hold” rating in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, Qorvo has an average rating of “Hold” and a consensus target price of $102.00.

Insider Activity

In related news, SVP Paul J. Fego sold 13,612 shares of the firm’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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

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.