PDT Partners LLC Purchases Shares of 65,166 Qorvo, Inc. $QRVO

Key Points

• PDT Partners LLC has acquired a new position in Qorvo, Inc., purchasing 65,166 shares valued at approximately $4.72 million.
• Institutional ownership of Qorvo is strong, with 88.57% of the stock held by various institutional investors and hedge funds.
• Analysts have mixed ratings on Qorvo's stock, with five rated as a "Buy", ten as a "Hold", and three as a "Sell", while the average target price stands at $95.35.

PDT Partners LLC bought a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 65,166 shares of the semiconductor company's stock, valued at approximately $4,719,000. PDT Partners LLC owned 0.07% of Qorvo at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. DRW Securities LLC boosted its stake in shares of Qorvo by 539.6% in the 1st quarter. DRW Securities LLC now owns 3,807 shares of the semiconductor company's stock valued at $276,000 after buying an additional 4,673 shares during the period. Vident Advisory LLC boosted its stake in shares of Qorvo by 2.4% in the 1st quarter. Vident Advisory LLC now owns 17,705 shares of the semiconductor company's stock valued at $1,282,000 after buying an additional 422 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of Qorvo by 17.9% in the 1st quarter. Evergreen Capital Management LLC now owns 4,502 shares of the semiconductor company's stock valued at $326,000 after buying an additional 683 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of 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 valued at $36,069,000 after buying an additional 475,444 shares during the period. Finally, Shannon River Fund Management LLC purchased a new position in shares of Qorvo in the 1st quarter valued at about $32,085,000. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Price Performance

Qorvo stock traded up $1.32 during midday trading on Thursday, reaching $92.20. The company's stock had a trading volume of 1,434,687 shares, compared to its average volume of 2,328,853. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $109.78. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. The stock's 50 day simple moving average is $87.88 and its 200 day simple moving average is $77.35. The firm has a market capitalization of $8.54 billion, a PE ratio of 108.47, a P/E/G ratio of 1.77 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 for the quarter, beating 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 business had revenue of $818.80 million during the quarter, compared to analysts' expectations of $775.61 million. During the same quarter last year, the business posted $0.87 earnings per share. The business's revenue for the quarter was down 7.7% on a year-over-year basis. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. On average, equities research analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus set a $88.00 price objective on Qorvo and gave the company a "hold" rating in a research note on Wednesday, July 30th. TD Cowen boosted their target price on Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Loop Capital upped their price target on Qorvo from $75.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Susquehanna reaffirmed a "neutral" rating and issued a $95.00 price target (up from $90.00) on shares of Qorvo in a report on Wednesday, July 30th. Finally, Piper Sandler upped their price target on Qorvo from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Qorvo currently has an average rating of "Hold" and an average price target of $95.35.

Qorvo Company 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.