Qorvo Shares Rise as Amundi Boosts Stake and Analysts Upgrade Rating

Amundi Asset Management increased its holding in Qorvo Inc. (NASDAQ:QRVO) to 0.88%, buying 512,475 shares in the first quarter and bringing its total to 772,352 shares worth about $59.8 million. The move adds to a series of recent institutional trades, with firms such as Jones Financial, EverSource Wealth Advisors, First Trust Advisors, Marshall Wace and Cerity Partners also adjusting their positions.

Qorvo reported quarterly earnings of $1.64 per share on revenue of $784.79 million, beating analyst expectations. The company posted a net margin of 10.95% and a return on equity of 17.23%. Following the results, several research houses upgraded the stock: Wall Street Zen moved the rating to "Buy," UBS raised its price target to $96 and issued a "Buy" rating, Barclays upgraded to "Overweight" with a $100 target, and Craig Hallum reaffirmed a "Buy" rating with a $120 target. Despite these upgrades, the overall consensus rating remains "Hold" with an average price target of $94.