EP Wealth Advisors LLC Acquires Shares of 3,687 Qorvo, Inc. $QRVO

EP Wealth Advisors LLC bought a new position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,687 shares of the semiconductor company's stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of QRVO. Cetera Investment Advisers increased its holdings in Qorvo by 22.3% during the 4th quarter. Cetera Investment Advisers now owns 10,364 shares of the semiconductor company's stock worth $725,000 after acquiring an additional 1,892 shares during the period. Ethic Inc. increased its holdings in shares of Qorvo by 6.6% in the 4th quarter. Ethic Inc. now owns 14,926 shares of the semiconductor company's stock worth $1,044,000 after buying an additional 921 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Qorvo by 1,137.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 101,542 shares of the semiconductor company's stock worth $7,101,000 after buying an additional 93,334 shares during the last quarter. Investment Management Corp of Ontario increased its holdings in shares of Qorvo by 505.7% in the 4th quarter. Investment Management Corp of Ontario now owns 19,164 shares of the semiconductor company's stock worth $1,340,000 after buying an additional 16,000 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Qorvo in the 4th quarter worth $522,000. Institutional investors own 88.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Qorvo from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Mizuho set a $84.00 target price on shares of Qorvo and gave the company a "neutral" rating in a report on Tuesday, July 1st. Benchmark increased their target price on shares of Qorvo from $95.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Needham & Company LLC increased their target price on shares of Qorvo from $90.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, TD Cowen increased their target price on shares of Qorvo from $80.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $95.35.

Qorvo Stock Down 1.0%

Shares of Qorvo stock traded down $0.86 during trading on Friday, hitting $86.81. The company's stock had a trading volume of 2,045,327 shares, compared to its average volume of 1,473,118. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. The company has a fifty day simple moving average of $88.64 and a two-hundred day simple moving average of $78.03. The company has a market capitalization of $8.04 billion, a PE ratio of 102.13, a P/E/G ratio of 1.71 and a beta of 1.39. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $108.44.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.30. The company had revenue of $818.80 million during the quarter, compared to analyst estimates of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. Qorvo's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Equities research analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Qorvo Profile

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.