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

Charles Schwab Investment Management Inc. lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 916,073 shares of the semiconductor company's stock after buying an additional 22,951 shares during the period. Charles Schwab Investment Management Inc. owned about 0.95% of Qorvo worth $103,159,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of QRVO. Zhang Financial LLC boosted its stake in shares of Qorvo by 2.7% in the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company's stock worth $434,000 after buying an additional 102 shares during the last quarter. Wahed Invest LLC grew its stake in Qorvo by 7.5% in the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company's stock valued at $147,000 after purchasing an additional 108 shares during the period. Teacher Retirement System of Texas increased its position in shares of Qorvo by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company's stock valued at $732,000 after purchasing an additional 116 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Qorvo by 8.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company's stock worth $278,000 after purchasing an additional 200 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Qorvo by 16.7% in the 3rd quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company's stock worth $135,000 after buying an additional 203 shares during the last quarter. Institutional investors own 88.57% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on QRVO shares. Rosenblatt Securities lifted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, February 1st. Raymond James increased their price objective on Qorvo from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered their target price on Qorvo from $105.00 to $100.00 and set an "underweight" rating on the stock in a research note on Thursday, May 2nd. Mizuho cut their price target on Qorvo from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 2nd. Finally, Barclays decreased their price objective on Qorvo from $110.00 to $100.00 and set an "equal weight" rating for the company in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $110.83.

Qorvo Price Performance

NASDAQ:QRVO traded up $0.66 during trading hours on Monday, hitting $98.35. The stock had a trading volume of 1,113,447 shares, compared to its average volume of 1,345,731. The company has a 50 day simple moving average of $110.91 and a two-hundred day simple moving average of $106.14. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of -134.73, a P/E/G ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company had revenue of $941.00 million during the quarter, compared to analyst estimates of $927.24 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm's quarterly revenue was up 48.7% on a year-over-year basis. Research analysts forecast that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Gina Harrison sold 354 shares of the firm's stock in a transaction that occurred 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 sale, the vice president now directly owns 18,442 shares of the company's stock, valued at $2,102,388. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Gina Harrison sold 354 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 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 approximately $2,102,388. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares of the company's stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,322 shares of company stock worth $837,050. 0.43% of the stock is currently owned by insiders.

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.