Assenagon Asset Management S.A. Has $16.62 Million Stock Position in Qorvo, Inc. $QRVO

Assenagon Asset Management S.A. lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 71.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 196,637 shares of the semiconductor company’s stock after selling 480,333 shares during the period. Assenagon Asset Management S.A.’s holdings in Qorvo were worth $16,618,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of QRVO. Lecap Asset Management Ltd. bought a new position in shares of Qorvo in the 3rd quarter valued at about $2,689,000. Optimize Financial Inc acquired a new position in shares of Qorvo during the 3rd quarter worth about $1,349,000. Norges Bank bought a new stake in shares of Qorvo in the 2nd quarter valued at about $153,994,000. Seizert Capital Partners LLC bought a new stake in shares of Qorvo in the 3rd quarter valued at about $2,092,000. Finally, Envestnet Asset Management Inc. lifted its stake in Qorvo by 83.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 40,443 shares of the semiconductor company’s stock valued at $3,684,000 after purchasing an additional 18,415 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on QRVO shares. Zacks Research upgraded Qorvo from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 18th. TD Cowen cut their price objective on Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Mizuho reduced their target price on Qorvo from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Citigroup decreased their target price on Qorvo from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th. Finally, Craig Hallum dropped their price target on Qorvo from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and an average target price of $93.88.

Qorvo Stock Down 0.2%

QRVO opened at $80.61 on Friday. The stock has a fifty day moving average of $80.78 and a 200-day moving average of $85.50. The company has a market capitalization of $7.47 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.40 and a beta of 1.35. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $106.30. 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 results 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 net margin of 9.11% and a return on equity of 14.57%. The business had revenue of $993.00 million for the quarter, compared to the consensus estimate of $984.10 million. During the same period in the prior year, the company posted $1.61 earnings per share. 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. On average, equities analysts expect that Qorvo, Inc. will post 4.09 EPS for the current year.

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.