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

Envestnet Asset Management Inc. raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 83.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,443 shares of the semiconductor company’s stock after buying an additional 18,415 shares during the period. Envestnet Asset Management Inc.’s holdings in Qorvo were worth $3,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in QRVO. Lecap Asset Management Ltd. purchased a new position in Qorvo in the 3rd quarter valued at $2,689,000. Norges Bank purchased a new position in shares of Qorvo in the second quarter worth about $153,994,000. Seizert Capital Partners LLC acquired a new position in Qorvo during the third quarter worth about $2,092,000. Campbell & CO Investment Adviser LLC purchased a new stake in Qorvo during the 2nd quarter valued at about $2,758,000. Finally, Vinva Investment Management Ltd acquired a new stake in Qorvo in the 2nd quarter valued at about $507,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

QRVO has been the subject of a number of analyst reports. Piper Sandler restated a “neutral” rating on shares of Qorvo in a research report on Wednesday, January 28th. Stifel Nicolaus cut their price objective on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Cfra reiterated a “hold” rating and issued a $122.00 target price on shares of Qorvo in a report on Tuesday, October 28th. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Finally, Craig Hallum lowered their price objective on Qorvo from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $93.56.

Qorvo Stock Up 0.9%

Shares of NASDAQ QRVO opened at $83.18 on Wednesday. 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’s 50 day moving average is $82.92 and its two-hundred day moving average is $87.16. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $106.30. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 1.43 and a beta of 1.37.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, beating 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 business had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $984.10 million. During the same period in the previous year, the firm posted $1.61 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. Research analysts predict that Qorvo, Inc. will post 4.09 EPS for the current year.

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.