Assenagon Asset Management S.A. Sells 86,684 Shares of Qorvo, Inc. $QRVO

Assenagon Asset Management S.A. decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 676,970 shares of the semiconductor company’s stock after selling 86,684 shares during the period. Assenagon Asset Management S.A. owned about 0.73% of Qorvo worth $61,658,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of QRVO. LPL Financial LLC increased its holdings in Qorvo by 11.3% in the 1st quarter. LPL Financial LLC now owns 20,023 shares of the semiconductor company’s stock worth $1,450,000 after acquiring an additional 2,027 shares during the last quarter. Nuveen LLC bought a new position in Qorvo during the first quarter worth about $13,953,000. HighTower Advisors LLC increased its stake in shares of Qorvo by 1.5% in the first quarter. HighTower Advisors LLC now owns 37,743 shares of the semiconductor company’s stock worth $2,733,000 after purchasing an additional 559 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Qorvo by 3.2% in the first quarter. Cresset Asset Management LLC now owns 30,354 shares of the semiconductor company’s stock worth $2,198,000 after purchasing an additional 927 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Qorvo in the first quarter valued at approximately $701,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup raised shares of Qorvo from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $70.00 to $105.00 in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Qorvo in a report on Monday. UBS Group lifted their price target on Qorvo from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Cfra Research upgraded Qorvo to a “hold” rating in a research note on Tuesday, October 28th. Finally, Piper Sandler cut Qorvo from an “overweight” rating to a “hold” rating and set a $110.00 price objective on the stock. in a report on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus price target of $102.00.

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 13,612 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $1,293,140.00. Following the completion of the sale, the senior vice president owned 54,558 shares of the company’s stock, valued at $5,183,010. This represents a 19.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by insiders.

Qorvo Stock Down 0.8%

QRVO opened at $85.92 on Thursday. The stock has a market cap of $7.94 billion, a PE ratio of 37.19, a P/E/G ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 2.20, a current ratio of 2.95 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $106.30. The business’s fifty day simple moving average is $88.27 and its 200 day simple moving average is $87.62.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.19. Qorvo had a return on equity of 13.30% and a net margin of 5.95%.The firm had revenue of $1.06 billion during the quarter. During the same period last year, the firm earned $1.88 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. As a group, research analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.