Northern Trust Corp Has $56.45 Million Holdings in Qorvo, Inc. $QRVO

Key Points

• Northern Trust Corp has reduced its stake in Qorvo, Inc. by 7.6%, now owning 779,598 shares valued at approximately $56.45 million.
• Several institutions have changed their positions in Qorvo, with 88.57% of the stock currently held by hedge funds and institutional investors.
• Brokerages have varying ratings for Qorvo, with an average price target of $95.35 and five analysts rating it as a Buy.

Northern Trust Corp lessened its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 779,598 shares of the semiconductor company's stock after selling 63,887 shares during the quarter. Northern Trust Corp owned 0.83% of Qorvo worth $56,451,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in Qorvo during the fourth quarter worth $1,327,000. Coldstream Capital Management Inc. bought a new stake in Qorvo during the fourth quarter worth $328,000. Comerica Bank raised its position in Qorvo by 37.7% during the fourth quarter. Comerica Bank now owns 34,412 shares of the semiconductor company's stock worth $2,406,000 after acquiring an additional 9,427 shares in the last quarter. Freestone Grove Partners LP bought a new stake in Qorvo during the fourth quarter worth $6,545,000. Finally, 272 Capital LP bought a new stake in Qorvo during the fourth quarter worth $427,000. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Performance

Shares of QRVO stock traded down $0.79 on Monday, hitting $90.70. The company's stock had a trading volume of 1,451,497 shares, compared to its average volume of 1,466,318. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. The stock's 50 day moving average is $87.55 and its 200-day moving average is $77.16. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $117.90. The company has a market capitalization of $8.40 billion, a PE ratio of 106.71, a PEG ratio of 1.77 and a beta of 1.39.

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

Analyst Ratings Changes

Several research firms have issued reports on QRVO. Susquehanna reaffirmed a "neutral" rating and set a $95.00 price target (up from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Qorvo in a research report on Thursday, July 10th. They set a "neutral" rating and a $90.00 price target on the stock. Loop Capital upped their price objective on shares of Qorvo from $75.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. UBS Group set a $100.00 price objective on shares of Qorvo and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Barclays upped their price objective on shares of Qorvo from $70.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Five 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.