Mirae Asset Global Investments Co. Ltd. Acquires 19,849 Shares of Qorvo, Inc. $QRVO

Key Points

• Mirae Asset increased its stake in Qorvo by 18.9%, buying 19,849 shares to hold 124,848 shares (about 0.14% of the company) valued at roughly $10.55 million at quarter-end.
• Analysts predominantly rate Qorvo a Hold (19 Holds vs. 2 Buys) with a consensus price target of $93.88, and several firms recently cut their targets.
• Qorvo recently beat expectations with Q-quarter EPS of $2.17 (vs. $1.93 est.) and revenue of $993M (+8.4% y/y); the stock trades near $81.90 with a $7.59B market cap and a 1-year range of $56–$106.30.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,848 shares of the semiconductor company's stock after buying an additional 19,849 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.14% of Qorvo worth $10,551,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Sage Rhino Capital LLC increased its holdings in shares of Qorvo by 4.4% in the 3rd quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company's stock worth $342,000 after buying an additional 160 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of Qorvo by 5.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company's stock worth $290,000 after buying an additional 160 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its holdings in shares of Qorvo by 5.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company's stock worth $254,000 after buying an additional 161 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Qorvo by 4.5% in the 3rd quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company's stock worth $377,000 after buying an additional 177 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its holdings in shares of Qorvo by 0.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 62,938 shares of the semiconductor company's stock worth $5,479,000 after buying an additional 194 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on QRVO shares. Barclays boosted their target price on shares of Qorvo from $90.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Craig Hallum dropped their price target on shares of Qorvo from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, January 28th. Zacks Research cut shares of Qorvo from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Stifel Nicolaus dropped their price target on shares of Qorvo from $88.00 to $85.00 and set a "hold" rating for the company in a research note on Wednesday, January 28th. Finally, TD Cowen dropped their price target on shares of Qorvo from $95.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $93.88.

Qorvo Stock Performance

Shares of QRVO opened at $81.90 on Monday. Qorvo, Inc. has a 1-year low of $56.00 and a 1-year high of $106.30. The company has a 50-day moving average of $80.35 and a 200 day moving average of $84.13. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.24. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The company had revenue of $993.00 million during the quarter, compared to analyst estimates of $984.10 million. During the same quarter last year, the business posted $1.61 EPS. The firm's revenue for the quarter 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 expect that Qorvo, Inc. will post 4.09 EPS for the current year.

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.

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