Qorvo, Inc. $QRVO Shares Acquired by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Qorvo, Inc. by 19.0%, acquiring 2,990 additional shares, bringing its total holdings to 18,725 shares valued at $1,356,000.
• Institutional investors hold approximately 88.57% of Qorvo's stock, with significant new stakes from firms like Jericho Capital Asset Management and Contour Asset Management.
• Wall Street analysts generally have a consensus rating of "Hold" for Qorvo with target prices ranging from $84.00 to $125.00, reflecting mixed opinions on the company's future performance.

Voya Investment Management LLC increased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 19.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 18,725 shares of the semiconductor company's stock after acquiring an additional 2,990 shares during the period. Voya Investment Management LLC's holdings in Qorvo were worth $1,356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Jericho Capital Asset Management L.P. bought a new stake in shares of Qorvo in the 1st quarter valued at approximately $168,980,000. Contour Asset Management LLC acquired a new position in Qorvo during the 1st quarter worth $151,698,000. The Manufacturers Life Insurance Company boosted its position in Qorvo by 2,096.5% during 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 during the period. Shannon River Fund Management LLC acquired a new stake in shares of Qorvo in the first quarter valued at $32,085,000. Finally, LSV Asset Management lifted its holdings in shares of Qorvo by 114.4% in the first quarter. LSV Asset Management now owns 634,381 shares of the semiconductor company's stock valued at $45,936,000 after buying an additional 338,521 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Benchmark boosted their target price on Qorvo from $95.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. TD Cowen upped their target price on Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. UBS Group set a $100.00 price target on Qorvo and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Susquehanna restated a "neutral" rating and set a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research note on Wednesday, July 30th. Finally, Mizuho set a $84.00 price target on Qorvo and gave the company a "neutral" rating in a report on Tuesday, July 1st. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Qorvo has a consensus rating of "Hold" and a consensus target price of $95.35.

Qorvo Price Performance

NASDAQ:QRVO opened at $96.31 on Tuesday. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $107.33. 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 company has a market cap of $8.92 billion, a P/E ratio of 113.31, a P/E/G ratio of 1.79 and a beta of 1.39. The stock's 50-day simple moving average is $88.80 and its 200 day simple moving average is $78.84.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 EPS for the quarter, topping 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 company posted $0.87 earnings per share. Qorvo's quarterly revenue was down 7.7% on a year-over-year basis. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, sell-side analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

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.

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