AlphaQuest LLC Buys 8,535 Shares of Qorvo, Inc. $QRVO

AlphaQuest LLC lifted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 7,233.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,653 shares of the semiconductor company’s stock after buying an additional 8,535 shares during the quarter. AlphaQuest LLC’s holdings in Qorvo were worth $788,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QRVO. Sage Rhino Capital LLC lifted its stake in Qorvo by 4.4% in the 3rd quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock worth $342,000 after purchasing an additional 160 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Qorvo by 4.5% in the third quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company’s stock worth $377,000 after buying an additional 177 shares in the last quarter. HB Wealth Management LLC boosted its stake in Qorvo by 6.9% during the second quarter. HB Wealth Management LLC now owns 2,955 shares of the semiconductor company’s stock valued at $251,000 after buying an additional 190 shares during the last quarter. KLP Kapitalforvaltning AS grew its holdings in Qorvo by 1.1% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 18,400 shares of the semiconductor company’s stock valued at $1,676,000 after buying an additional 200 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its stake in Qorvo by 7.6% in the 3rd quarter. Resonant Capital Advisors LLC now owns 2,881 shares of the semiconductor company’s stock worth $262,000 after acquiring an additional 204 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

Shares of QRVO stock opened at $78.80 on Wednesday. The company has a market capitalization of $7.31 billion, a P/E ratio of 21.71, a P/E/G ratio of 1.39 and a beta of 1.37. The company’s 50-day simple moving average is $84.31 and its two-hundred day simple moving average is $87.43. Qorvo, Inc. has a one year low of $49.46 and a one year high of $106.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89.

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

Analysts Set New Price Targets

QRVO has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating on shares of Qorvo in a report on Wednesday, January 28th. UBS Group dropped their price objective on shares of Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. JPMorgan Chase & Co. raised shares of Qorvo from an “underweight” rating to a “neutral” rating and increased their price target for the company from $92.00 to $105.00 in a report on Tuesday, November 4th. Cfra Research raised Qorvo to a “hold” rating in a research note on Tuesday, October 28th. Finally, Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $93.56.

Qorvo Profile

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.