Banque Cantonale Vaudoise Reduces Position in Qorvo, Inc. (NASDAQ:QRVO)

Banque Cantonale Vaudoise reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 38.2% during the 3rd quarter, Holdings Channel reports. The fund owned 3,235 shares of the semiconductor company’s stock after selling 1,998 shares during the period. Banque Cantonale Vaudoise’s holdings in Qorvo were worth $334,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Qorvo in the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its position in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Versant Capital Management Inc grew its stake in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the period. New Millennium Group LLC acquired a new position in Qorvo in the 2nd quarter valued at $34,000. Finally, Blue Trust Inc. lifted its stake in shares of Qorvo by 241.6% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays dropped their target price on Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC started coverage on shares of Qorvo in a report on Monday, October 28th. They issued a “buy” rating and a $135.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Susquehanna cut their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $102.88.

Qorvo Stock Performance

Shares of QRVO stock opened at $67.62 on Friday. The company’s fifty day moving average price is $90.84 and its two-hundred day moving average price is $103.23. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The firm has a market capitalization of $6.39 billion, a P/E ratio of -46.32, a P/E/G ratio of 5.31 and a beta of 1.49. Qorvo, Inc. has a 12 month low of $64.98 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business posted $1.99 earnings per share. Qorvo’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, research analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.