Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,100 shares of the semiconductor company’s stock after acquiring an additional 1,392 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Qorvo were worth $2,198,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. raised its stake in Qorvo by 24.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,480 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 880 shares in the last quarter. Edge Advisors LLC raised its stake in Qorvo by 119.1% during the 3rd quarter. Edge Advisors LLC now owns 6,540 shares of the semiconductor company’s stock valued at $461,000 after acquiring an additional 3,555 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in Qorvo by 52.5% during the 3rd quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock valued at $172,674,000 after acquiring an additional 840,755 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Qorvo by 4.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,657,995 shares of the semiconductor company’s stock valued at $329,228,000 after acquiring an additional 194,106 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Qorvo by 50.6% during the 3rd quarter. SG Americas Securities LLC now owns 8,927 shares of the semiconductor company’s stock valued at $631,000 after acquiring an additional 3,001 shares in the last quarter. 96.75% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo, Inc. (NASDAQ QRVO) opened at $74.21 on Friday. The company has a quick ratio of 2.71, a current ratio of 3.80 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $9,440.00 and a price-to-earnings ratio of 19.15. Qorvo, Inc. has a 1-year low of $49.53 and a 1-year high of $81.20.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.52. The business had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $810.47 million. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 EPS. analysts anticipate that Qorvo, Inc. will post 4.74 earnings per share for the current fiscal year.

QRVO has been the topic of several recent analyst reports. Northland Securities downgraded Qorvo from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 2nd. J P Morgan Chase & Co set a $88.00 price target on Qorvo and gave the company a “buy” rating in a research report on Wednesday, November 15th. Citigroup lifted their price target on Qorvo from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Nomura assumed coverage on Qorvo in a research report on Tuesday, September 5th. They set a “neutral” rating and a $75.00 price target on the stock. Finally, Cowen reiterated a “hold” rating and set a $85.00 price target on shares of Qorvo in a research report on Sunday, September 17th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $76.74.

In related news, Director Walter H. Wilkinson sold 15,925 shares of Qorvo stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.02, for a total value of $1,274,318.50. Following the transaction, the director now directly owns 62,480 shares in the company, valued at approximately $4,999,649.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James L. Klein sold 2,600 shares of Qorvo stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $70.84, for a total value of $184,184.00. Following the completion of the transaction, the vice president now owns 42,993 shares in the company, valued at $3,045,624.12. The disclosure for this sale can be found here. Insiders sold a total of 65,925 shares of company stock worth $4,988,204 over the last 90 days. Insiders own 0.91% of the company’s stock.

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Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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