Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in Qorvo, Inc. (NASDAQ:QRVO) by 0.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 941,934 shares of the semiconductor company’s stock after selling 3,095 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Qorvo were worth $97,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Qorvo in the second quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after buying an additional 115 shares during the last quarter. Versant Capital Management Inc grew its holdings in Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the period. New Millennium Group LLC acquired a new position in Qorvo in the second quarter valued at approximately $34,000. Finally, Blue Trust Inc. lifted its holdings in Qorvo by 241.6% in the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 244 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on QRVO shares. Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Barclays cut their price objective on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. BNP Paribas lowered shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research note on Wednesday, October 30th. Needham & Company LLC began coverage on Qorvo in a research note on Monday, October 28th. They issued a “buy” rating and a $135.00 price target for the company. Finally, Piper Sandler reduced their price target on Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.88.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $68.15 on Wednesday. The firm has a 50-day simple moving average of $89.46 and a 200-day simple moving average of $102.95. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of -46.68, a price-to-earnings-growth ratio of 5.55 and a beta of 1.49. Qorvo, Inc. has a 52 week low of $64.98 and a 52 week high of $130.99.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. Qorvo’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.99 EPS. On average, equities analysts predict that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

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.