JPMorgan Chase & Co. boosted its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 58.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 313,156 shares of the semiconductor company's stock after acquiring an additional 115,890 shares during the period. JPMorgan Chase & Co. owned 0.34% of Qorvo worth $28,522,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in Qorvo during the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC acquired a new position in shares of Qorvo in the third quarter valued at approximately $25,000. Winnow Wealth LLC acquired a new position in shares of Qorvo in the third quarter valued at approximately $27,000. Stance Capital LLC purchased a new stake in shares of Qorvo during the third quarter worth approximately $27,000. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Qorvo during the third quarter worth approximately $34,000. 88.57% of the stock is owned by hedge funds and other institutional investors.
Qorvo Trading Up 0.8%
NASDAQ:QRVO opened at $78.76 on Tuesday. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $106.30. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.89 and a current ratio of 3.67. The stock has a fifty day moving average price of $80.82 and a two-hundred day moving average price of $85.66. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.35 and a beta of 1.35.
Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.24. The business had revenue of $993.00 million for the quarter, compared to analysts' expectations of $984.10 million. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 EPS. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. KeyCorp reiterated a "sector weight" rating on shares of Qorvo in a research report on Wednesday, January 28th. Mizuho cut their price objective on shares of Qorvo from $85.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, January 28th. Weiss Ratings upgraded shares of Qorvo from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday, January 29th. Piper Sandler reaffirmed a "neutral" rating on shares of Qorvo in a report on Wednesday, January 28th. Finally, UBS Group dropped their price target on shares of Qorvo from $108.00 to $87.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seventeen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $93.88.
Get Our Latest Analysis on Qorvo
Qorvo Profile
(
Free Report)
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.
Further Reading
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