Northwestern Mutual Wealth Management Co. Has $8.58 Million Stake in Qorvo, Inc. $QRVO

Northwestern Mutual Wealth Management Co. increased its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 6,670.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,553 shares of the semiconductor company’s stock after buying an additional 100,053 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.11% of Qorvo worth $8,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in QRVO. Winnow Wealth LLC acquired a new position in Qorvo during the third quarter worth $27,000. Stance Capital LLC acquired a new position in Qorvo during the third quarter worth $27,000. Sound Income Strategies LLC increased its holdings in Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after buying an additional 343 shares during the last quarter. Advisory Services Network LLC acquired a new position in Qorvo during the third quarter worth $36,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Qorvo by 93.3% in the third quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 208 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 956 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $95.00, for a total transaction of $90,820.00. Following the completion of the sale, the vice president owned 29,143 shares of the company’s stock, valued at $2,768,585. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

Qorvo Trading Up 8.9%

Shares of Qorvo stock opened at $106.43 on Friday. The firm has a 50-day moving average of $84.43 and a 200-day moving average of $84.04. The stock has a market cap of $9.37 billion, a PE ratio of 29.40, a PEG ratio of 1.53 and a beta of 1.42. Qorvo, Inc. has a 52-week low of $73.00 and a 52-week high of $106.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The company had revenue of $808.28 million during the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. Qorvo’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, sell-side analysts forecast that Qorvo, Inc. will post 5.87 EPS for the current year.

Wall Street Analyst Weigh In

QRVO has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. Mizuho reiterated an “underperform” rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Citigroup upped their price objective on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. TD Cowen decreased their price objective on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Finally, Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Three investment 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 stock has an average rating of “Hold” and an average price target of $96.63.

Qorvo 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.