Mirae Asset Global Investments Co. Ltd. Acquires 5,989 Shares of Qorvo, Inc. $QRVO

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Qorvo, Inc. by 4.5%, acquiring an additional 5,989 shares, bringing its total holdings to 140,158 shares, valued at approximately $11.9 million.
• Institutional ownership of Qorvo stock is significant, with 88.57% currently held by institutional investors, reflecting strong interest from large investors.
• Analysts have mixed views on Qorvo, with five analysts assigning a Buy rating, while ten rated it as Hold and four as Sell, indicating a consensus rating of "Hold" and a target price of $95.35.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 140,158 shares of the semiconductor company's stock after buying an additional 5,989 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.15% of Qorvo worth $11,901,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QRVO. Jericho Capital Asset Management L.P. bought a new position in Qorvo during the 1st quarter valued at about $168,980,000. Contour Asset Management LLC bought a new position in Qorvo in the 1st quarter worth about $151,698,000. The Manufacturers Life Insurance Company grew its stake in Qorvo by 2,096.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 498,122 shares of the semiconductor company's stock worth $36,069,000 after acquiring an additional 475,444 shares in the last quarter. Shannon River Fund Management LLC bought a new position in Qorvo in the 1st quarter worth about $32,085,000. Finally, Assenagon Asset Management S.A. grew its stake in Qorvo by 82.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 763,654 shares of the semiconductor company's stock worth $64,842,000 after acquiring an additional 345,929 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on QRVO shares. Citigroup restated a "sell" rating on shares of Qorvo in a research note on Wednesday, September 10th. Craig Hallum restated a "buy" rating on shares of Qorvo in a research note on Wednesday, July 30th. 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. TD Cowen upped their price target on shares of Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Finally, Mizuho set a $84.00 price target on shares of Qorvo and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.35.

Insider Activity

In other news, SVP Paul J. Fego sold 13,612 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $95.00, for a total value of $1,293,140.00. Following the sale, the senior vice president owned 54,558 shares in the company, valued at $5,183,010. This represents a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company's stock.

Qorvo Trading Up 2.1%

NASDAQ QRVO opened at $93.48 on Friday. The company has a fifty day simple moving average of $89.65 and a two-hundred day simple moving average of $80.09. The stock has a market cap of $8.66 billion, a P/E ratio of 109.98, a P/E/G ratio of 1.82 and a beta of 1.42. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month 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 posted 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. The business had revenue of $818.80 million during the quarter, compared to analysts' expectations of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The business's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.87 earnings per share. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.