Charles Schwab Investment Management Inc. Grows Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Charles Schwab Investment Management Inc. raised its position in Qorvo, Inc. (NASDAQ:QRVO) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 888,814 shares of the semiconductor company’s stock after buying an additional 57,838 shares during the period. Charles Schwab Investment Management Inc. owned 0.95% of Qorvo worth $64,359,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. City Holding Co. bought a new position in Qorvo during the first quarter valued at about $25,000. Larson Financial Group LLC raised its position in Qorvo by 222.6% in the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 296 shares during the period. Curat Global LLC purchased a new position in Qorvo in the first quarter valued at about $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Qorvo during the 1st quarter valued at approximately $34,000. Finally, Signaturefd LLC grew its position in shares of Qorvo by 34.6% during the 1st quarter. Signaturefd LLC now owns 662 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 170 shares during the period. Institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 0.6%

Shares of QRVO opened at $90.66 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.81 and a quick ratio of 2.01. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 106.66, a PEG ratio of 1.76 and a beta of 1.35. The company has a 50-day moving average of $85.15 and a 200 day moving average of $76.35. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $117.90.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share 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 firm had revenue of $818.80 million during the quarter, compared to the consensus estimate of $775.61 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. On average, research analysts expect that Qorvo, Inc. will post 4.09 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on QRVO. Loop Capital upped their price objective on Qorvo from $75.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, July 30th. Craig Hallum reaffirmed a “buy” rating on shares of Qorvo in a research report on Wednesday, July 30th. Mizuho set a $84.00 price target on Qorvo and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. UBS Group set a $100.00 price objective on Qorvo and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Qorvo from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.