Versor Investments LP Raises Stake in Qorvo, Inc. $QRVO

Versor Investments LP increased its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 2,789.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,578 shares of the semiconductor company’s stock after acquiring an additional 66,205 shares during the quarter. Qorvo makes up about 0.9% of Versor Investments LP’s investment portfolio, making the stock its 20th largest position. Versor Investments LP owned approximately 0.07% of Qorvo worth $5,796,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in QRVO. Marshall Wace LLP boosted its holdings in shares of 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 buying an additional 809,591 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Qorvo in the 3rd quarter valued at approximately $66,594,000. Dorsal Capital Management LP raised its position in shares of 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 purchasing an additional 595,000 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of 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 purchasing an additional 532,322 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of 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 purchasing an additional 472,211 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on QRVO shares. Susquehanna decreased their price objective on shares of Qorvo from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley set a $84.00 price objective on shares of Qorvo in a research report on Wednesday, January 28th. Finally, TD Cowen decreased their price objective on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $96.63.

Qorvo Stock Performance

QRVO opened at $93.41 on Tuesday. Qorvo, Inc. has a 12-month low of $73.00 and a 12-month high of $106.30. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $8.66 billion, a PE ratio of 25.80, a P/E/G ratio of 1.42 and a beta of 1.42. The firm has a 50 day moving average of $81.66 and a two-hundred day moving average of $83.89.

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

Qorvo Company 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.