Fred Alger Management LLC Invests $264,000 in Qorvo, Inc. $QRVO

Key Points

• Fred Alger Management LLC has invested $264,000 in Qorvo, Inc. by acquiring 3,639 shares, indicating confidence in the semiconductor company as it navigates market fluctuations.
• Qorvo's shares have recently been rated a "strong-buy" by Wall Street Zen, with analysts raising the price target to $125.00, reflecting positive sentiment for future performance.
• The company's quarterly earnings fell 7.7% year-over-year, but it reported earnings per share of $0.92, exceeding analyst expectations of $0.62.

Fred Alger Management LLC bought a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,639 shares of the semiconductor company's stock, valued at approximately $264,000.

Several other hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its position in shares of Qorvo by 34.6% in the 1st quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 170 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Qorvo by 33.1% in the 1st quarter. Brooklyn Investment Group now owns 1,170 shares of the semiconductor company's stock worth $85,000 after purchasing an additional 291 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Qorvo by 222.6% in the 1st quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 296 shares during the last quarter. City Holding Co. bought a new stake in shares of Qorvo in the 1st quarter worth approximately $25,000. Finally, Banque Transatlantique SA bought a new stake in shares of Qorvo in the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Trading Down 3.2%

Shares of QRVO stock opened at $89.19 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $108.44. The stock has a fifty day moving average of $88.52 and a two-hundred day moving average of $77.84. The firm has a market capitalization of $8.26 billion, a PE ratio of 104.93, a price-to-earnings-growth ratio of 1.80 and a beta of 1.39.

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

Wall Street Analyst Weigh In

QRVO has been the topic of several recent research reports. Wall Street Zen raised Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Benchmark lifted their price objective on shares of Qorvo from $95.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Needham & Company LLC lifted their price objective on shares of Qorvo from $90.00 to $104.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Mizuho set a $84.00 price objective on shares of Qorvo and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Finally, Susquehanna reiterated a "neutral" rating and issued a $95.00 price objective (up from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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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