Russell Investments Group Ltd. Purchases 60,212 Shares of Qorvo, Inc. $QRVO

Russell Investments Group Ltd. raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 17.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,604 shares of the semiconductor company’s stock after purchasing an additional 60,212 shares during the period. Russell Investments Group Ltd.’s holdings in Qorvo were worth $36,668,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Qorvo by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock worth $1,011,453,000 after purchasing an additional 100,058 shares during the period. State Street Corp boosted its stake in Qorvo by 5.0% during the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after buying an additional 175,031 shares during the period. Norges Bank purchased a new position in Qorvo during the second quarter worth about $153,994,000. Dimensional Fund Advisors LP grew its position in Qorvo by 16.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,727,103 shares of the semiconductor company’s stock worth $157,298,000 after buying an additional 243,147 shares in the last quarter. Finally, LSV Asset Management increased its stake in Qorvo by 10.0% in the 3rd quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company’s stock worth $138,520,000 after acquiring an additional 137,886 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on QRVO shares. KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. Susquehanna decreased their price objective on shares of Qorvo from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Citigroup lowered their target price on shares of Qorvo from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Piper Sandler reiterated a “neutral” rating on shares of Qorvo in a research report on Wednesday, January 28th. Finally, Craig Hallum cut their price target on shares of Qorvo from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.88.

Qorvo Trading Up 0.6%

Shares of QRVO stock opened at $78.63 on Thursday. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $81.77 and a two-hundred day moving average price of $86.45. Qorvo, Inc. has a 12-month low of $49.46 and a 12-month high of $106.30. The firm has a market cap of $7.29 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35.

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

Qorvo Profile

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.