Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 77.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of QRVO. Barclays PLC grew its stake in Qorvo by 646.2% in the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company's stock valued at $369,091,000 after purchasing an additional 3,347,972 shares during the period. Invesco Ltd. grew its stake in Qorvo by 18.9% in the 3rd quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company's stock valued at $189,964,000 after purchasing an additional 316,328 shares during the period. UBS Group AG grew its stake in Qorvo by 491.9% in the 3rd quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company's stock valued at $120,987,000 after purchasing an additional 1,053,157 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Qorvo by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 893,122 shares of the semiconductor company's stock valued at $85,266,000 after purchasing an additional 5,462 shares during the period. Finally, FMR LLC grew its stake in 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 during the period. Institutional investors own 88.57% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Piper Sandler reduced their price objective on Qorvo from $120.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, February 1st. Barclays increased their price objective on Qorvo from $95.00 to $100.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. increased their price objective on Qorvo from $95.00 to $105.00 and gave the stock an "underweight" rating in a report on Thursday, February 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 price target on shares of Qorvo in a report on Thursday, February 1st. Finally, Susquehanna reaffirmed a "neutral" rating and issued a $100.00 price target on shares of Qorvo in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Qorvo has a consensus rating of "Hold" and an average target price of $111.53.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 354 shares of the firm'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 completion of the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares in the company, valued at $3,386,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now 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 have sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by insiders.

Qorvo Trading Up 3.9 %

QRVO traded up $4.17 on Wednesday, hitting $112.15. 1,551,435 shares of the company were exchanged, compared to its average volume of 1,264,024. The firm has a fifty day simple moving average of $113.53 and a two-hundred day simple moving average of $104.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65. The stock has a market capitalization of $10.83 billion, a PE ratio of -52.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.56.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. Sell-side analysts expect that Qorvo, Inc. will post 4.95 earnings per share for the current year.

About Qorvo

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.