Swiss National Bank Has $34.59 Million Stake in Qorvo, Inc. (NASDAQ:QRVO)

Swiss National Bank reduced its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,145 shares of the semiconductor company's stock after selling 10,100 shares during the period. Swiss National Bank owned approximately 0.32% of Qorvo worth $34,588,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Barclays PLC grew 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 during the period. Invesco Ltd. increased its holdings 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 in the last quarter. UBS Group AG raised its position in Qorvo by 491.9% in the third 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. lifted its position in Qorvo by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 893,122 shares of the semiconductor company's stock worth $85,266,000 after acquiring an additional 5,462 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Qorvo by 7.6% in the third 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. Hedge funds and other institutional investors own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QRVO. StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research report on Friday, May 3rd. Craig Hallum raised their price target 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. JPMorgan Chase & Co. cut their price target on shares of Qorvo from $105.00 to $100.00 and set an "underweight" rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC cut their target price on shares of Qorvo from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. Finally, Piper Sandler decreased their price target on Qorvo from $120.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $110.83.

Qorvo Stock Performance

QRVO stock traded down $0.73 during trading on Wednesday, reaching $96.02. 1,401,113 shares of the company's stock were exchanged, compared to its average volume of 1,355,866. The firm has a market cap of $9.27 billion, a PE ratio of -131.53, a P/E/G ratio of 0.90 and a beta of 1.53. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65. The company's fifty day moving average price is $112.14 and its 200-day moving average price is $105.80.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The company had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. During the same period in the previous year, the firm earned $0.11 EPS. Qorvo's revenue was up 48.7% on a year-over-year basis. On average, research analysts expect that Qorvo, Inc. will post 6.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 354 shares of the firm's stock in a transaction dated Thursday, February 15th. The shares were 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 directly owns 18,442 shares in the company, valued at $2,102,388. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Gina Harrison sold 354 shares of the firm's stock in a transaction 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 sale, the vice president now owns 18,442 shares of the company's stock, valued at $2,102,388. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Steven E. Creviston sold 3,000 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the transaction, the senior vice president now directly owns 77,552 shares in the company, valued at $9,306,240. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock worth $745,434 in the last three months. 0.43% of the stock is currently owned by 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.