Russell Investments Group Ltd. Acquires 121,882 Shares of Qorvo, Inc. $QRVO

Russell Investments Group Ltd. boosted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 55.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 342,392 shares of the semiconductor company’s stock after purchasing an additional 121,882 shares during the period. Russell Investments Group Ltd. owned about 0.37% of Qorvo worth $29,071,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QRVO. Jericho Capital Asset Management L.P. bought a new stake in shares of Qorvo in the 1st quarter valued at about $168,980,000. Contour Asset Management LLC acquired a new position in shares of Qorvo in the first quarter worth approximately $151,698,000. LSV Asset Management lifted its stake in shares of Qorvo by 118.0% in the second quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company’s stock worth $117,428,000 after acquiring an additional 748,589 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Qorvo by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 897,678 shares of the semiconductor company’s stock valued at $76,222,000 after acquiring an additional 8,864 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Qorvo by 82.8% during 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 and hedge funds.

Qorvo Stock Up 0.3%

QRVO stock opened at $85.91 on Friday. The company’s 50 day moving average is $89.31 and its 200 day moving average is $86.59. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.44. The company has a current ratio of 2.95, a quick ratio of 2.20 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $106.30.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Cfra Research raised shares of Qorvo to a “hold” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised Qorvo from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $92.00 to $105.00 in a report on Tuesday, November 4th. Piper Sandler downgraded shares of Qorvo from an “overweight” rating to a “hold” rating and set a $110.00 target price for the company. in a report on Wednesday, October 29th. Finally, Citigroup upgraded Qorvo from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $105.00 in a report on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $102.00.

Insider Buying and Selling

In related news, SVP Paul J. Fego sold 13,612 shares of the 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 transaction, the senior vice president owned 54,558 shares of the company’s stock, valued at $5,183,010. This represents a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by corporate 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.