Schwab Charles Investment Management Inc. Has $42.52 Million Stake in Qorvo Inc (QRVO)

Schwab Charles Investment Management Inc. grew its stake in Qorvo Inc (NASDAQ:QRVO) by 6.2% in the fourth quarter, HoldingsChannel reports. The firm owned 638,405 shares of the semiconductor company’s stock after acquiring an additional 37,274 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Qorvo were worth $42,518,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of QRVO. Alyeska Investment Group L.P. acquired a new position in Qorvo in the third quarter valued at approximately $118,506,000. Manning & Napier Advisors LLC lifted its holdings in Qorvo by 52.5% in the third 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 during the last quarter. Renaissance Technologies LLC acquired a new position in Qorvo in the second quarter valued at approximately $18,990,000. Cornerstone Capital Management Holdings LLC. lifted its holdings in Qorvo by 113.1% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 374,721 shares of the semiconductor company’s stock valued at $26,484,000 after acquiring an additional 198,856 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Qorvo by 4.3% in the third 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 during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

A number of research analysts recently commented on QRVO shares. Northland Securities cut Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday, November 2nd. Instinet upgraded Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 1st. BidaskClub cut Qorvo from a “hold” rating to a “sell” rating in a report on Wednesday, December 6th. JPMorgan Chase & Co. set a $88.00 price objective on Qorvo and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, Zacks Investment Research cut Qorvo from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $80.42.

Qorvo Inc (QRVO) opened at $76.85 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.62 and a current ratio of 4.72. Qorvo Inc has a 52 week low of $62.68 and a 52 week high of $85.24. The company has a market capitalization of $9,720.00, a price-to-earnings ratio of 365.95, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The company had revenue of $845.70 million for the quarter, compared to analysts’ expectations of $841.09 million. During the same period in the prior year, the firm earned $1.35 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. sell-side analysts predict that Qorvo Inc will post 4.49 EPS for the current fiscal year.

In other Qorvo news, Director Walter H. Wilkinson sold 15,925 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the transaction, the director now directly owns 62,480 shares in the company, valued at $4,999,649.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $71.37, for a total value of $428,220.00. Following the transaction, the vice president now owns 82,725 shares in the company, valued at $5,904,083.25. The disclosure for this sale can be found here. Insiders have sold 50,496 shares of company stock worth $3,766,549 over the last 90 days. 0.91% of the stock is owned by insiders.

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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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