Charles Schwab Investment Management Inc. Sells 3,095 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Charles Schwab Investment Management Inc. trimmed its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 941,934 shares of the semiconductor company’s stock after selling 3,095 shares during the period. Charles Schwab Investment Management Inc. owned about 1.00% of Qorvo worth $97,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QRVO. Vulcan Value Partners LLC grew its stake in shares of Qorvo by 35.0% during the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after buying an additional 550,111 shares during the last quarter. Pacer Advisors Inc. grew its position in Qorvo by 7.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company’s stock valued at $157,920,000 after acquiring an additional 101,742 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock worth $153,558,000 after purchasing an additional 4,386 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Qorvo by 140.2% during the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after purchasing an additional 487,621 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Qorvo by 23.9% during the third quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company’s stock valued at $83,429,000 after purchasing an additional 160,534 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Qorvo

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

Qorvo Trading Down 2.2 %

NASDAQ:QRVO opened at $68.15 on Wednesday. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of -46.68, a PEG 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. 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 firm has a 50 day moving average of $89.46 and a 200 day moving average of $102.95.

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

Analysts Set New Price Targets

Several research firms recently commented on QRVO. Benchmark downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Craig Hallum decreased their target price on Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price target on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $102.88.

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.