Qorvo, Inc. (NASDAQ:QRVO) Holdings Lowered by Swiss National Bank

Swiss National Bank cut its stake in Qorvo, Inc. (NASDAQ:QRVO) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,145 shares of the semiconductor company’s stock after selling 10,100 shares during the period. Swiss National Bank owned approximately 0.32% of Qorvo worth $34,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Zhang Financial LLC increased its position in shares of Qorvo by 2.7% during the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock valued at $434,000 after purchasing an additional 102 shares during the period. Wahed Invest LLC raised its position in Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 108 shares in the last quarter. Teacher Retirement System of Texas raised its position in Qorvo by 1.5% in the third quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock worth $732,000 after acquiring an additional 116 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Qorvo by 8.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock valued at $278,000 after acquiring an additional 200 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Qorvo by 16.7% during the 3rd quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insiders Place Their Bets

In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares in the company, valued at $9,306,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gina Harrison sold 354 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 over the last three months. 0.43% of the stock is currently owned by insiders.

Qorvo Trading Up 0.6 %

Shares of NASDAQ QRVO opened at $96.75 on Wednesday. The business has a 50 day simple moving average of $112.46 and a 200 day simple moving average of $105.87. Qorvo, Inc. has a 52 week low of $80.62 and a 52 week high of $121.65. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of -132.53, a PEG ratio of 0.90 and a beta of 1.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The firm had revenue of $941.00 million during the quarter, compared to analysts’ expectations of $927.24 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company’s revenue was up 48.7% compared to the same quarter last year. On average, research analysts predict that Qorvo, Inc. will post 6.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Needham & Company LLC dropped their target price on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Rosenblatt Securities increased their price objective on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Susquehanna decreased their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Barclays cut their target price on Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, Craig Hallum increased their price target on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $110.83.

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.