GSA Capital Partners LLP Purchases Shares of 43,663 Qorvo, Inc. $QRVO

GSA Capital Partners LLP purchased a new position in shares of Qorvo, Inc. (NASDAQ:QRVO) in the third quarter, according to its most recent filing with the SEC. The firm purchased 43,663 shares of the semiconductor company’s stock, valued at approximately $3,977,000. Qorvo accounts for 0.3% of GSA Capital Partners LLP’s portfolio, making the stock its 6th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new position in shares of Qorvo during the 3rd quarter worth about $25,000. Twin Peaks Wealth Advisors LLC bought a new position in Qorvo in the second quarter worth approximately $25,000. Winnow Wealth LLC bought a new position in Qorvo in the third quarter worth approximately $27,000. Salomon & Ludwin LLC acquired a new stake in Qorvo in the third quarter valued at approximately $34,000. Finally, True Wealth Design LLC increased its holdings in shares of Qorvo by 560.3% during the third quarter. True Wealth Design LLC now owns 416 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 353 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Performance

Shares of Qorvo stock opened at $84.44 on Tuesday. The business’s fifty day simple moving average is $83.58 and its 200 day simple moving average is $87.28. 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, Inc. has a 12 month low of $49.46 and a 12 month high of $106.30. The firm has a market capitalization of $7.83 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 1.47 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

QRVO has been the topic of a number of recent research reports. UBS Group dropped their price objective on shares of Qorvo from $108.00 to $87.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. TD Cowen dropped their price target on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. JPMorgan Chase & Co. upgraded Qorvo from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $92.00 to $105.00 in a research note on Tuesday, November 4th. Piper Sandler reissued a “neutral” rating on shares of Qorvo in a research note on Wednesday, January 28th. Finally, Stifel Nicolaus dropped their target price on Qorvo from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.