Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 26.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,552 shares of the semiconductor company’s stock after buying an additional 526 shares during the period. Banque Cantonale Vaudoise’s holdings in Qorvo were worth $293,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. FIL Ltd raised its holdings in shares of Qorvo by 4.5% during the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after purchasing an additional 120,213 shares during the last quarter. Boston Partners raised its holdings in shares of Qorvo by 0.5% during the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock worth $161,726,000 after purchasing an additional 6,558 shares during the last quarter. Norges Bank purchased a new position in shares of Qorvo during the fourth quarter worth $118,120,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Qorvo by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 916,073 shares of the semiconductor company’s stock worth $103,159,000 after purchasing an additional 22,951 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Qorvo by 161.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 857,596 shares of the semiconductor company’s stock worth $96,574,000 after purchasing an additional 529,309 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 0.5 %

Shares of Qorvo stock opened at $113.52 on Monday. The company has a market cap of $10.86 billion, a P/E ratio of -155.51, a PEG ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. Qorvo, Inc. has a one year low of $80.62 and a one year high of $121.65. The firm has a fifty day moving average of $104.12 and a two-hundred day moving average of $108.34.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Qorvo from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Mizuho cut their price objective on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Benchmark cut their price objective on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of Qorvo in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $110.83.

Insiders Place Their Bets

In other Qorvo news, CEO Robert A. Bruggeworth sold 22,299 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the completion of the transaction, the chief executive officer now owns 154,714 shares in the company, valued at approximately $15,364,647.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Robert A. Bruggeworth sold 4,721 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total value of $472,100.00. Following the completion of the transaction, the chief executive officer now owns 205,440 shares in the company, valued at approximately $20,544,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert A. Bruggeworth sold 22,299 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the completion of the transaction, the chief executive officer now owns 154,714 shares of the company’s stock, valued at approximately $15,364,647.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,372 shares of company stock worth $4,517,858. 0.43% of the stock is owned by insiders.

Qorvo Company 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.