Caprock Group LLC Acquires New Shares in Qorvo, Inc. $QRVO

Caprock Group LLC bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) in the third quarter, Holdings Channel reports. The fund bought 12,293 shares of the semiconductor company’s stock, valued at approximately $1,115,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in Qorvo by 5.0% during 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 purchased a new position in shares of Qorvo in the 2nd quarter worth about $153,994,000. Bank of America Corp DE increased 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 valued at $128,975,000 after purchasing an additional 255,068 shares during the last quarter. LSV Asset Management raised its holdings in shares of Qorvo by 118.0% during the 2nd quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company’s stock valued at $117,428,000 after buying an additional 748,589 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in shares of Qorvo by 63.6% during 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. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $84.44 on Monday. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $106.30. The company has a 50 day simple moving average of $83.68 and a two-hundred day simple moving average of $87.27. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 1.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.89 and a current ratio of 3.67.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.24. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The business had revenue of $993.00 million during the quarter, compared to analyst estimates of $984.10 million. During the same period last year, the business earned $1.61 EPS. Qorvo’s 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. Analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on QRVO shares. TD Cowen lowered their price objective on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Susquehanna decreased their target price on shares of Qorvo from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Stifel Nicolaus lowered their price target on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. UBS Group cut their price target on shares of Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. Finally, Mizuho decreased their price objective on Qorvo from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.