JPMorgan Chase & Co. Acquires 115,890 Shares of Qorvo, Inc. $QRVO

JPMorgan Chase & Co. raised its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 58.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 313,156 shares of the semiconductor company’s stock after buying an additional 115,890 shares during the quarter. JPMorgan Chase & Co.’s holdings in Qorvo were worth $28,522,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in QRVO. Jones Financial Companies Lllp boosted its holdings in Qorvo by 440.1% in the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after acquiring an additional 6,628 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Qorvo by 9.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 22,028 shares of the semiconductor company’s stock worth $1,870,000 after purchasing an additional 1,851 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Qorvo by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,515 shares of the semiconductor company’s stock valued at $1,148,000 after purchasing an additional 220 shares in the last quarter. Daymark Wealth Partners LLC bought a new stake in shares of Qorvo during the 2nd quarter valued at about $220,000. Finally, Hantz Financial Services Inc. increased its position in shares of Qorvo by 94.3% during the second quarter. Hantz Financial Services Inc. now owns 3,031 shares of the semiconductor company’s stock valued at $257,000 after buying an additional 1,471 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. TD Cowen lowered their target price on Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Susquehanna dropped their price target on Qorvo from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. JPMorgan Chase & Co. raised Qorvo from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $92.00 to $105.00 in a research note on Tuesday, November 4th. Finally, Stifel Nicolaus lowered their price objective on Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus price target of $93.56.

Qorvo Trading Up 0.5%

Qorvo stock opened at $82.90 on Friday. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $106.30. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 1.44 and a beta of 1.37. The business’s fifty day simple moving average is $82.74 and its two-hundred day simple moving average is $87.05. The company has a current ratio of 3.67, a quick ratio of 2.89 and a debt-to-equity ratio of 0.42.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.24. The firm had revenue of $993.00 million during 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%.Qorvo’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. As a group, equities analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal 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.