Qorvo, Inc. $QRVO Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 0.9% during the third quarter, HoldingsChannel reports. The fund owned 11,105,104 shares of the semiconductor company’s stock after purchasing an additional 100,058 shares during the period. Vanguard Group Inc. owned 0.12% of Qorvo worth $1,011,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its holdings in Qorvo by 5.0% in the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares in the last quarter. Norges Bank acquired a new stake in Qorvo during the second quarter worth approximately $153,994,000. LSV Asset Management raised its holdings in Qorvo by 10.0% during the third quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company’s stock worth $138,520,000 after purchasing an additional 137,886 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Qorvo by 20.2% during the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock worth $128,975,000 after buying an additional 255,068 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Qorvo by 63.6% in the 2nd quarter. Rafferty Asset Management LLC now owns 1,214,482 shares of the semiconductor company’s stock valued at $103,122,000 after buying an additional 472,211 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Qorvo from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, January 29th. Morgan Stanley set a $84.00 target price on Qorvo in a research report on Wednesday, January 28th. Stifel Nicolaus dropped their price target on Qorvo from $88.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. KeyCorp reiterated a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Finally, Piper Sandler restated a “neutral” rating on shares of Qorvo in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average price target of $93.56.

Qorvo Stock Up 1.1%

Qorvo stock opened at $82.24 on Friday. The stock has a 50 day moving average of $83.10 and a two-hundred day moving average of $87.21. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $106.30. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.43 and a beta of 1.37. The company has a current ratio of 3.67, a quick ratio of 2.89 and a debt-to-equity ratio of 0.42.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.93 by $0.24. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The business had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $984.10 million. During the same quarter in the prior year, the business earned $1.61 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. As a group, research analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current year.

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.