Algert Global LLC Acquires Shares of 9,680 Qorvo, Inc. $QRVO

Key Points

• Algert Global LLC has acquired a new stake in Qorvo, Inc., purchasing 9,680 shares valued at approximately $701,000.
• Qorvo's stock recently saw a 4.4% increase, with shares opening at $92.95, and has a market cap of $8.61 billion.
• Analysts have varying outlooks on Qorvo, with Piper Sandler raising the price target to $125.00 while most analysts maintain a consensus rating of "Hold" with an average price target of $95.35.

Algert Global LLC bought a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,680 shares of the semiconductor company's stock, valued at approximately $701,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock valued at $251,577,000 after acquiring an additional 1,816,811 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after acquiring an additional 902,353 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Qorvo by 22.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock valued at $99,280,000 after acquiring an additional 264,167 shares in the last quarter. Woodline Partners LP raised its holdings in Qorvo by 31.3% in the fourth quarter. Woodline Partners LP now owns 968,103 shares of the semiconductor company's stock valued at $67,699,000 after acquiring an additional 230,710 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Qorvo by 7.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 888,814 shares of the semiconductor company's stock valued at $64,359,000 after acquiring an additional 57,838 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Performance

Shares of QRVO traded down $0.79 during mid-day trading on Friday, reaching $90.70. 1,451,497 shares of the company's stock were exchanged, compared to its average volume of 1,510,900. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. The stock has a market capitalization of $8.40 billion, a PE ratio of 106.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.35. The business's fifty day simple moving average is $87.35 and its 200-day simple moving average is $77.06. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $117.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.30. The business had revenue of $818.80 million for 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%. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, equities research analysts expect that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group set a $100.00 target price on shares of Qorvo and gave the company a "neutral" rating in a report on Wednesday, July 30th. Needham & Company LLC raised 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. Wall Street Zen raised shares of Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Susquehanna reissued a "neutral" rating and set a $95.00 price objective (up previously from $90.00) on shares of Qorvo in a report on Wednesday, July 30th. Finally, Piper Sandler raised their price objective on shares of Qorvo from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Five equities 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $95.35.

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.