JPMorgan Chase & Co. Boosts Holdings in Qorvo, Inc. $QRVO

JPMorgan Chase & Co. grew its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 58.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,156 shares of the semiconductor company’s stock after purchasing an additional 115,890 shares during the period. JPMorgan Chase & Co. owned approximately 0.34% of Qorvo worth $28,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sage Rhino Capital LLC grew its position in Qorvo by 4.4% during the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock worth $342,000 after buying an additional 160 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Qorvo by 4.5% during the 3rd quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company’s stock valued at $377,000 after acquiring an additional 177 shares during the last quarter. KLP Kapitalforvaltning AS boosted its position in shares of Qorvo by 1.1% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 18,400 shares of the semiconductor company’s stock valued at $1,676,000 after acquiring an additional 200 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Qorvo by 7.6% during the third quarter. Resonant Capital Advisors LLC now owns 2,881 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 204 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Qorvo by 0.8% in the third quarter. Arizona State Retirement System now owns 26,084 shares of the semiconductor company’s stock worth $2,376,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

QRVO opened at $82.90 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. The stock’s 50 day simple moving average is $82.74 and its 200 day simple moving average is $87.05. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.44 and a beta of 1.37. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $106.30.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.24. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The firm had revenue of $993.00 million during the quarter, compared to analyst estimates of $984.10 million. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. As a group, analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QRVO. UBS Group dropped their target price on shares of Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. JPMorgan Chase & Co. upgraded shares of Qorvo from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $92.00 to $105.00 in a research report on Tuesday, November 4th. Argus upgraded shares of Qorvo to a “hold” rating in a research report on Wednesday, November 5th. Citigroup reduced 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. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.56.

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.