Readystate Asset Management LP Invests $2.74 Million in Qorvo, Inc. $QRVO

Readystate Asset Management LP acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 30,113 shares of the semiconductor company’s stock, valued at approximately $2,743,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QRVO. Vanguard Group Inc. grew its holdings in shares of Qorvo by 0.9% during the third quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock worth $1,011,453,000 after buying an additional 100,058 shares in the last quarter. State Street Corp grew its stake in Qorvo by 5.0% in the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock worth $314,516,000 after acquiring an additional 175,031 shares during the period. Norges Bank acquired a new position in Qorvo in the 2nd quarter valued at $153,994,000. LSV Asset Management raised its holdings in Qorvo by 10.0% in the 3rd quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company’s stock valued at $138,520,000 after acquiring an additional 137,886 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake 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 purchasing an additional 255,068 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Upgrades and Downgrades

QRVO has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating on shares of Qorvo in a research report on Wednesday, January 28th. Zacks Research downgraded shares of Qorvo from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. KeyCorp reiterated a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. Mizuho lowered their target price on shares of Qorvo from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. raised shares of Qorvo from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $92.00 to $105.00 in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and a consensus price target of $93.56.

Qorvo Stock Performance

NASDAQ:QRVO opened at $84.29 on Wednesday. The firm’s fifty day simple moving average is $83.49 and its 200 day simple moving average is $87.28. 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, Inc. has a twelve month low of $49.46 and a twelve month high of $106.30. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 1.47 and a beta of 1.37.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, beating 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 company had revenue of $993.00 million for the quarter, compared to analyst estimates of $984.10 million. During the same period last year, the company posted $1.61 earnings per share. The firm’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. As a group, equities research analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Qorvo Company 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.