Zurcher Kantonalbank Zurich Cantonalbank Has $2.01 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 77.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,862 shares of the semiconductor company’s stock after selling 61,354 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Qorvo were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC boosted its stake in Qorvo by 646.2% during the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after buying an additional 3,347,972 shares in the last quarter. Invesco Ltd. boosted its stake in Qorvo by 18.9% during the third quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock worth $189,964,000 after buying an additional 316,328 shares in the last quarter. UBS Group AG boosted its stake in Qorvo by 491.9% during the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock worth $120,987,000 after buying an additional 1,053,157 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Qorvo by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 893,122 shares of the semiconductor company’s stock worth $85,266,000 after buying an additional 5,462 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Qorvo by 7.6% in the 3rd quarter. FMR LLC now owns 680,516 shares of the semiconductor company’s stock valued at $64,969,000 after purchasing an additional 48,125 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling

In related news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gina Harrison sold 354 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The disclosure for this sale can be found here. In the last three months, insiders sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is owned by corporate insiders.

Qorvo Stock Performance

Shares of QRVO stock opened at $107.98 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The stock has a market cap of $10.43 billion, a PE ratio of -50.22, a price-to-earnings-growth ratio of 0.82 and a beta of 1.56. The stock has a 50-day moving average of $113.60 and a 200-day moving average of $104.70. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1 billion. As a group, sell-side analysts expect that Qorvo, Inc. will post 4.95 earnings per share for the current year.

Wall Street Analyst Weigh In

QRVO has been the topic of several recent analyst reports. Rosenblatt Securities boosted their target price on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Raymond James boosted their target price on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Craig Hallum boosted their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upped their price target on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, February 1st. Finally, Barclays upped their price target on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus price target of $111.53.

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.