Rhumbline Advisers Lowers Holdings in Qorvo, Inc. $QRVO

Rhumbline Advisers reduced its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,291 shares of the semiconductor company’s stock after selling 20,801 shares during the quarter. Rhumbline Advisers owned about 0.23% of Qorvo worth $19,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in QRVO. Norges Bank purchased a new position in shares of Qorvo during the second quarter valued at $153,994,000. LSV Asset Management grew its holdings in Qorvo by 118.0% during the 2nd quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company’s stock worth $117,428,000 after acquiring an additional 748,589 shares in the last quarter. Rafferty Asset Management LLC increased its position in Qorvo by 63.6% during the 2nd quarter. Rafferty Asset Management LLC now owns 1,214,482 shares of the semiconductor company’s stock valued at $103,122,000 after purchasing an additional 472,211 shares during the period. Dorsal Capital Management LP bought a new stake in shares of Qorvo in the 2nd quarter valued at about $34,389,000. Finally, Bank of America Corp DE lifted its position in shares of Qorvo by 20.2% in 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. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on QRVO. Mizuho cut their price objective on shares of Qorvo from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th. UBS Group cut their price target on Qorvo from $108.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a research report on Wednesday, January 28th. Finally, Susquehanna cut their target price on Qorvo from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $93.56.

Qorvo Stock Down 0.2%

NASDAQ:QRVO opened at $84.29 on Wednesday. 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 company has a market cap of $7.81 billion, a PE ratio of 23.22, a P/E/G ratio of 1.47 and a beta of 1.37. The company’s 50 day moving average is $83.49 and its two-hundred day moving average is $87.28.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.24. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The firm had revenue of $993.00 million during the quarter, compared to the consensus estimate of $984.10 million. During the same quarter in the previous year, the company posted $1.61 earnings per share. The company’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. 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.