Algert Global LLC Takes $701,000 Position in 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 purchased a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,680 shares of the semiconductor company's stock, valued at approximately $701,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of Qorvo by 34.6% in the first quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 170 shares in the last quarter. Larson Financial Group LLC raised its position in Qorvo by 222.6% during the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock valued at $31,000 after buying an additional 296 shares during the period. City Holding Co. purchased a new stake in Qorvo in the 1st quarter worth about $25,000. Curat Global LLC acquired a new stake in Qorvo during the 1st quarter worth about $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Qorvo during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Up 4.4%

Shares of Qorvo stock opened at $92.95 on Friday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 109.35, a P/E/G ratio of 1.81 and a beta of 1.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $117.90. The stock has a 50-day simple moving average of $86.21 and a 200-day simple moving average of $76.56.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.30. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.The business had revenue of $818.80 million during the quarter, compared to analyst estimates of $775.61 million. During the same period in the previous year, the company earned $0.87 EPS. The firm's revenue was down 7.7% on a year-over-year basis. 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 fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QRVO shares. Piper Sandler raised 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. Susquehanna reissued a "neutral" rating and set a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research note on Wednesday, July 30th. Stifel Nicolaus set a $88.00 price objective on Qorvo and gave the stock a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen raised Qorvo from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, Citigroup reaffirmed a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.

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