Qorvo, Inc. $QRVO Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 83.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,443 shares of the semiconductor company’s stock after acquiring an additional 18,415 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Qorvo were worth $3,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Qorvo during the 2nd quarter worth $25,000. Nisa Investment Advisors LLC acquired a new stake in Qorvo in the 3rd quarter valued at about $25,000. Winnow Wealth LLC purchased a new position in shares of Qorvo in the 3rd quarter valued at about $27,000. Salomon & Ludwin LLC acquired a new position in shares of Qorvo during the third quarter worth about $34,000. Finally, True Wealth Design LLC increased its stake in shares of Qorvo by 560.3% during the third quarter. True Wealth Design LLC now owns 416 shares of the semiconductor company’s stock worth $38,000 after buying an additional 353 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on QRVO shares. Stifel Nicolaus decreased 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. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Craig Hallum dropped their target price on Qorvo from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Mizuho cut their price target on Qorvo from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Finally, Argus raised Qorvo to a “hold” rating in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the stock. According to MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $93.56.

Qorvo Price Performance

Shares of QRVO opened at $83.18 on Wednesday. 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, Inc. has a 1-year low of $49.46 and a 1-year high of $106.30. The stock has a market cap of $7.71 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 1.43 and a beta of 1.37. The firm has a fifty day moving average price of $82.92 and a 200 day moving average price of $87.16.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (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 company had revenue of $993.00 million for the quarter, compared to analyst estimates of $984.10 million. During the same quarter last year, the company posted $1.61 earnings per share. The business’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, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 EPS 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.