Nuveen LLC Takes Position in Qorvo, Inc. $QRVO

Key Points

• Nuveen LLC acquired 192,701 shares of Qorvo, Inc., valued at approximately $13.95 million, during the first quarter, owning 0.21% of the company post-purchase.
• Qorvo's stock currently has a market cap of $8.25 billion and recently reported an earnings per share of $0.92, exceeding estimates by $0.30.
• Analysts have mixed ratings on Qorvo, with five rating it as a "Buy," ten as a "Hold," and three as a "Sell," while the average price target is $95.35.

Nuveen LLC acquired a new stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 192,701 shares of the semiconductor company's stock, valued at approximately $13,953,000. Nuveen LLC owned 0.21% of Qorvo as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in Qorvo by 25.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 37,651 shares of the semiconductor company's stock valued at $2,633,000 after purchasing an additional 7,536 shares during the period. Raymond James Financial Inc. acquired a new stake in Qorvo in the fourth quarter valued at approximately $1,327,000. Mariner LLC boosted its stake in shares of Qorvo by 8.7% in the fourth quarter. Mariner LLC now owns 16,296 shares of the semiconductor company's stock worth $1,140,000 after acquiring an additional 1,298 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Qorvo by 22.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock worth $99,280,000 after acquiring an additional 264,167 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Qorvo by 206.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 22,550 shares of the semiconductor company's stock worth $1,577,000 after acquiring an additional 15,184 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Trading Down 0.5%

Shares of QRVO stock traded down $0.46 on Wednesday, hitting $91.91. The stock had a trading volume of 1,632,835 shares, compared to its average volume of 1,771,860. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. The firm has a market capitalization of $8.52 billion, a P/E ratio of 108.13, a P/E/G ratio of 1.80 and a beta of 1.35. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $117.90. The company's 50 day moving average price is $86.91 and its 200-day moving average price is $76.87.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.30. The company had revenue of $818.80 million for the quarter, compared to the consensus estimate of $775.61 million. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.Qorvo's revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 EPS. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. Analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QRVO. The Goldman Sachs Group began coverage on Qorvo in a research note on Thursday, July 10th. They issued a "neutral" rating and a $90.00 price target on the stock. TD Cowen lifted their price target on Qorvo from $80.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Barclays boosted their price objective on Qorvo from $70.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Piper Sandler boosted their price objective on Qorvo from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Loop Capital boosted their price objective on Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $95.35.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.