Qorvo, Inc. $QRVO Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its holdings in Qorvo, Inc. by 82.8% during the second quarter, owning a total of 763,654 shares valued at approximately $64.8 million.
• Qorvo reported earnings of $0.92 per share for the most recent quarter, exceeding analysts' expectations, despite a 7.7% decline in revenue compared to the same period last year.
• The stock has a consensus rating of "Hold" from analysts, with a price target averaging $95.35, indicating a mixed outlook on its future performance.

Assenagon Asset Management S.A. lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 82.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 763,654 shares of the semiconductor company's stock after purchasing an additional 345,929 shares during the period. Assenagon Asset Management S.A. owned 0.82% of Qorvo worth $64,842,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of QRVO. Cetera Investment Advisers increased its position in Qorvo by 22.3% in the 4th quarter. Cetera Investment Advisers now owns 10,364 shares of the semiconductor company's stock valued at $725,000 after acquiring an additional 1,892 shares during the period. Vident Advisory LLC grew its stake in Qorvo by 16.4% during the fourth quarter. Vident Advisory LLC now owns 17,283 shares of the semiconductor company's stock valued at $1,209,000 after acquiring an additional 2,440 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Qorvo by 20.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,076 shares of the semiconductor company's stock valued at $47,698,000 after acquiring an additional 117,053 shares in the last quarter. GTS Securities LLC lifted its holdings in shares of Qorvo by 7.5% in the 4th quarter. GTS Securities LLC now owns 11,016 shares of the semiconductor company's stock worth $770,000 after acquiring an additional 772 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Qorvo during the 4th quarter valued at $1,435,000. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Down 3.4%

Shares of QRVO stock traded down $3.30 during trading hours on Tuesday, reaching $93.01. 536,274 shares of the company's stock were exchanged, compared to its average volume of 2,360,381. The stock's fifty day moving average price is $88.80 and its two-hundred day moving average price is $78.84. The stock has a market cap of $8.62 billion, a PE ratio of 109.44, a PEG ratio of 1.79 and a beta of 1.39. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $107.33. The company has a current ratio of 2.81, a quick ratio of 2.01 and a debt-to-equity ratio of 0.45.

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 analysts' consensus estimates of $0.62 by $0.30. The company had revenue of $818.80 million during the quarter, compared to the consensus estimate of $775.61 million. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.Qorvo's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Research analysts predict that Qorvo, Inc. will post 4.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QRVO shares. Stifel Nicolaus set a $88.00 price objective on shares of Qorvo and gave the company a "hold" rating in a research report on Wednesday, July 30th. Piper Sandler increased their price objective on shares of Qorvo from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. TD Cowen increased their price objective on shares of Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Qorvo in a research note on Thursday, July 10th. They set a "neutral" rating and a $90.00 target price on the stock. Finally, UBS Group set a $100.00 target price on shares of Qorvo and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $95.35.

About Qorvo

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.