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

Assenagon Asset Management S.A. reduced its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 71.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 196,637 shares of the semiconductor company’s stock after selling 480,333 shares during the period. Assenagon Asset Management S.A. owned about 0.21% of Qorvo worth $16,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sage Rhino Capital LLC boosted its position in shares of Qorvo by 4.4% in the 3rd quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock worth $342,000 after purchasing an additional 160 shares during the last quarter. Fred Alger Management LLC increased its holdings in Qorvo by 5.3% in the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 160 shares during the last quarter. Versant Capital Management Inc lifted its stake in Qorvo by 4.5% in the third quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company’s stock valued at $377,000 after buying an additional 177 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in Qorvo by 0.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 62,938 shares of the semiconductor company’s stock valued at $5,479,000 after buying an additional 194 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in Qorvo by 1.1% during the third quarter. KLP Kapitalforvaltning AS now owns 18,400 shares of the semiconductor company’s stock worth $1,676,000 after buying an additional 200 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Down 0.2%

NASDAQ:QRVO opened at $80.61 on Friday. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $106.30. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $80.78 and a two-hundred day moving average price of $85.50. The company has a market cap of $7.47 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.24. The company had revenue of $993.00 million for the quarter, compared to the consensus estimate of $984.10 million. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.61 earnings per share. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. As a group, analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QRVO has been the subject of several analyst reports. Mizuho decreased their target price on Qorvo from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, January 28th. Morgan Stanley set a $84.00 price objective on shares of Qorvo in a research note on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. TD Cowen lowered their target price on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Finally, Zacks Research upgraded shares of Qorvo from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seventeen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $93.88.

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.