Pinnacle Associates Ltd. lowered its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 286,070 shares of the semiconductor company's stock after selling 15,501 shares during the quarter. Pinnacle Associates Ltd. owned about 0.31% of Qorvo worth $26,055,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC bought a new position in shares of Qorvo in the 2nd quarter worth about $25,000. Nisa Investment Advisors LLC bought a new stake in Qorvo during the third quarter worth about $25,000. Winnow Wealth LLC purchased a new stake in Qorvo in the third quarter worth about $27,000. Salomon & Ludwin LLC purchased a new stake in Qorvo in the third quarter worth about $34,000. Finally, True Wealth Design LLC increased its stake in shares of Qorvo by 560.3% during the third quarter. True Wealth Design LLC now owns 416 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 353 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.
Qorvo Price Performance
Shares of QRVO opened at $77.64 on Monday. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $106.30. The company has a market capitalization of $7.20 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The firm has a 50 day moving average of $82.19 and a 200 day moving average of $86.68. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42.
Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.24. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The business had revenue of $993.00 million for the quarter, compared to analysts' expectations of $984.10 million. During the same period in the prior year, the firm posted $1.61 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. As a group, equities research analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Qorvo from $88.00 to $85.00 and set a "hold" rating for the company in a report on Wednesday, January 28th. Mizuho reduced their price objective on Qorvo from $85.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, January 28th. Benchmark reiterated a "hold" rating on shares of Qorvo in a research note on Wednesday, January 28th. TD Cowen dropped their target price on Qorvo from $95.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, January 28th. Finally, Citigroup cut their target price on Qorvo from $105.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $93.88.
View Our Latest Report on QRVO
Qorvo Company Profile
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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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