Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Qorvo, Inc. (NASDAQ:QRVO)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 77.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of QRVO. CWM LLC grew its stake in Qorvo by 6.3% during the third quarter. CWM LLC now owns 3,022 shares of the semiconductor company’s stock worth $288,000 after buying an additional 179 shares during the period. DnB Asset Management AS grew its stake in Qorvo by 59.6% during the third quarter. DnB Asset Management AS now owns 19,907 shares of the semiconductor company’s stock worth $1,901,000 after buying an additional 7,433 shares during the period. Mach 1 Financial Group LLC purchased a new stake in Qorvo during the third quarter worth approximately $455,000. GHP Investment Advisors Inc. grew its stake in Qorvo by 5.6% during the third quarter. GHP Investment Advisors Inc. now owns 48,629 shares of the semiconductor company’s stock worth $4,421,000 after buying an additional 2,578 shares during the period. Finally, Oak Thistle LLC grew its stake in Qorvo by 51.4% during the third quarter. Oak Thistle LLC now owns 12,156 shares of the semiconductor company’s stock worth $1,161,000 after buying an additional 4,125 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on QRVO shares. JPMorgan Chase & Co. boosted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” 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 stock a “buy” rating in a research report on Thursday, February 1st. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Barclays boosted their target price 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $125.00 target price on shares of Qorvo in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and a consensus target price of $111.53.

Qorvo Trading Up 0.8 %

QRVO opened at $107.98 on Wednesday. The stock has a market capitalization of $10.43 billion, a PE ratio of -50.22, a P/E/G ratio of 0.82 and a beta of 1.56. The firm’s fifty day moving average price is $113.60 and its 200 day moving average price is $104.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. Qorvo, Inc. has a 12-month low of $80.62 and a 12-month high of $121.65.

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

Insiders Place Their Bets

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,381 shares of company stock valued at $745,434. Company insiders own 0.43% of the company’s stock.

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.