Dimensional Fund Advisors LP Buys 243,147 Shares of Qorvo, Inc. $QRVO

Key Points

• Dimensional Fund Advisors LP boosted its Qorvo stake by 16.4%, buying 243,147 shares to hold 1,727,103 shares (about 1.87% of the company) worth ~$157.3 million, amid heavy institutional buying that leaves institutions owning 88.57% of the stock.
• Qorvo beat expectations for the quarter with EPS $2.17 vs. $1.93 and revenue of $993M (+8.4% YoY), while analysts maintain a consensus rating of "Hold" and an average price target of $93.88.

Dimensional Fund Advisors LP lifted its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,727,103 shares of the semiconductor company's stock after purchasing an additional 243,147 shares during the period. Dimensional Fund Advisors LP owned 1.87% of Qorvo worth $157,298,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of QRVO. Norges Bank bought a new position in Qorvo in the second quarter worth about $153,994,000. LSV Asset Management boosted its position in Qorvo by 118.0% during the 2nd quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company's stock valued at $117,428,000 after acquiring an additional 748,589 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Qorvo by 63.6% during the 2nd quarter. Rafferty Asset Management LLC now owns 1,214,482 shares of the semiconductor company's stock worth $103,122,000 after acquiring an additional 472,211 shares during the period. Dorsal Capital Management LP purchased a new position in shares of Qorvo during the 2nd quarter worth approximately $34,389,000. Finally, Bank of America Corp DE raised its position in shares of Qorvo by 20.2% in the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company's stock worth $128,975,000 after acquiring an additional 255,068 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Up 0.5%

Shares of NASDAQ:QRVO opened at $78.04 on Tuesday. The company has a current ratio of 3.67, a quick ratio of 2.89 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $82.04 and a two-hundred day simple moving average of $86.61. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $106.30. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.35 and a beta of 1.35.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, topping 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 firm had revenue of $993.00 million for the quarter, compared to analysts' expectations of $984.10 million. During the same period in the prior year, the firm posted $1.61 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, research analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on QRVO. KeyCorp restated a "sector weight" rating on shares of Qorvo in a research report on Wednesday, January 28th. Susquehanna decreased their price objective on Qorvo from $95.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, January 22nd. Zacks Research raised Qorvo from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 17th. Craig Hallum dropped their target price on shares of Qorvo from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, January 28th. Finally, Morgan Stanley set a $84.00 price target on shares of Qorvo in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Qorvo has an average rating of "Hold" and a consensus target price of $93.88.

Qorvo 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.