Russell Investments Group Ltd. Raises Stock Position in Qorvo, Inc. $QRVO

Key Points

• Russell Investments Group Ltd. increased its stake in Qorvo, Inc. by 28.4%, owning a total of 220,510 shares valued at approximately $15.97 million.
• About 88.57% of Qorvo's stock is currently held by institutional investors and hedge funds, indicating significant institutional interest in the company.
• Qorvo reported a net margin of 2.21% and a revenue of $818.80 million for the last quarter, exceeding analyst estimates of $775.61 million.

Russell Investments Group Ltd. grew its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 28.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,510 shares of the semiconductor company's stock after acquiring an additional 48,785 shares during the period. Russell Investments Group Ltd. owned 0.24% of Qorvo worth $15,967,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its holdings in Qorvo by 34.6% during the 1st quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 170 shares during the last quarter. Larson Financial Group LLC grew its holdings in Qorvo by 222.6% during the 1st quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 296 shares during the last quarter. City Holding Co. bought a new stake in Qorvo during the 1st quarter worth about $25,000. Curat Global LLC bought a new stake in shares of Qorvo during the first quarter worth $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Qorvo during the first quarter worth $34,000. Institutional investors own 88.57% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on QRVO. Craig Hallum restated a "buy" rating on shares of Qorvo in a research report 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 report on Wednesday, July 30th. Stifel Nicolaus set a $88.00 price objective on shares of Qorvo and gave the company a "hold" rating in a research note on Wednesday, July 30th. Barclays raised their price objective on shares of Qorvo from $70.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Qorvo in a research note on Thursday, July 10th. They issued a "neutral" rating and a $90.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $95.35.

Qorvo Stock Up 4.6%

Shares of NASDAQ QRVO traded up $4.08 during midday trading on Friday, hitting $93.15. The stock had a trading volume of 393,811 shares, compared to its average volume of 2,369,465. The business's 50 day moving average is $85.94 and its 200-day moving average is $76.53. The company has a market cap of $8.63 billion, a P/E ratio of 109.51, a PEG ratio of 1.74 and a beta of 1.35. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $117.90. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its 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. The business had revenue of $818.80 million during the quarter, compared to analyst estimates of $775.61 million. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.The company's quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, analysts predict that Qorvo, Inc. will post 4.09 EPS for the current year.

About Qorvo

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.