Qorvo, Inc. $QRVO Shares Acquired by Versor Investments LP

Versor Investments LP lifted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2,789.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 68,578 shares of the semiconductor company’s stock after acquiring an additional 66,205 shares during the period. Qorvo comprises 0.9% of Versor Investments LP’s investment portfolio, making the stock its 20th biggest holding. Versor Investments LP’s holdings in Qorvo were worth $5,796,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QRVO. Marshall Wace LLP grew its stake in Qorvo by 16,066.5% in the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock valued at $74,197,000 after acquiring an additional 809,591 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Qorvo in the 3rd quarter valued at $66,594,000. Dorsal Capital Management LP grew its stake in Qorvo by 146.9% in the 3rd quarter. Dorsal Capital Management LP now owns 1,000,000 shares of the semiconductor company’s stock valued at $91,080,000 after acquiring an additional 595,000 shares during the period. Voloridge Investment Management LLC grew its stake in Qorvo by 2,502.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 553,596 shares of the semiconductor company’s stock valued at $50,422,000 after acquiring an additional 532,322 shares during the period. Finally, Rafferty Asset Management LLC grew its stake in Qorvo by 63.6% in the 2nd quarter. Rafferty Asset Management LLC now owns 1,214,482 shares of the semiconductor company’s stock valued at $103,122,000 after acquiring an additional 472,211 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Up 3.2%

Shares of QRVO opened at $93.41 on Tuesday. Qorvo, Inc. has a 52-week low of $73.00 and a 52-week high of $106.30. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average is $81.66 and its two-hundred day moving average is $83.89. The stock has a market cap of $8.66 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.42 and a beta of 1.42.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.48. The company had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts forecast that Qorvo, Inc. will post 5.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QRVO has been the topic of a number of research analyst reports. Citigroup lifted their price target on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wolfe Research cut shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Susquehanna dropped their price target on shares of Qorvo from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, TD Cowen lowered their target price on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $96.63.

About Qorvo

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.