192,701 Shares in Qorvo, Inc. $QRVO Bought by Nuveen LLC

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

Other hedge funds have also recently made changes to their positions in the company. City Holding Co. bought a new stake in shares of Qorvo in the first quarter valued at $25,000. Larson Financial Group LLC raised its stake in shares of Qorvo by 222.6% in the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock valued at $31,000 after buying an additional 296 shares during the period. Curat Global LLC bought a new stake in shares of Qorvo in the first quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Qorvo in the first quarter valued at $34,000. Finally, Signaturefd LLC raised its stake in shares of Qorvo by 34.6% in the first quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock valued at $48,000 after buying an additional 170 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Qorvo Price Performance

Qorvo stock opened at $89.07 on Friday. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $117.90. The business has a 50-day simple moving average of $85.94 and a 200 day simple moving average of $76.53. The company has a quick ratio of 2.01, a current ratio of 2.81 and a debt-to-equity ratio of 0.45. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 104.79, a PEG ratio of 1.74 and a beta of 1.35.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen upgraded Qorvo from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Stifel Nicolaus set a $88.00 target price on Qorvo and gave the company a "hold" rating in a research note on Wednesday, July 30th. Craig Hallum reiterated a "buy" rating on shares of Qorvo in a research report on Wednesday, July 30th. TD Cowen lifted their price target on Qorvo from $80.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Citigroup reiterated a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $95.35.

Qorvo 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.

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