Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by ING Groep NV

ING Groep NV raised its position in Qorvo, Inc. (NASDAQ:QRVOFree Report) by 103.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,027 shares of the semiconductor company’s stock after buying an additional 100,035 shares during the period. ING Groep NV owned approximately 0.20% of Qorvo worth $22,187,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Barclays PLC boosted its holdings in shares of Qorvo by 646.2% in the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after acquiring an additional 3,347,972 shares in the last quarter. UBS Group AG grew its stake in Qorvo by 491.9% in the 3rd quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after buying an additional 1,053,157 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Qorvo by 268.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 537,541 shares of the semiconductor company’s stock valued at $51,319,000 after buying an additional 391,570 shares during the last quarter. Invesco Ltd. grew its position in Qorvo by 18.9% in the 3rd quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock worth $189,964,000 after purchasing an additional 316,328 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in Qorvo by 119.4% in the 4th quarter. Panagora Asset Management Inc. now owns 580,929 shares of the semiconductor company’s stock worth $65,418,000 after purchasing an additional 316,172 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Performance

QRVO stock traded down $1.08 during midday trading on Friday, reaching $98.43. 1,096,327 shares of the company’s stock traded hands, compared to its average volume of 1,611,151. The company has a 50-day moving average price of $109.57 and a two-hundred day moving average price of $106.36. 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 52 week low of $80.62 and a 52 week high of $121.65. The firm has a market capitalization of $9.50 billion, a PE ratio of -134.84, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53.

Qorvo (NASDAQ:QRVOGet Free Report) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $941.00 million for the quarter, compared to analysts’ expectations of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, equities analysts anticipate that Qorvo, Inc. will post 5.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QRVO. Benchmark decreased their target price on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group reduced their price objective on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Piper Sandler reduced their price target on Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Barclays dropped their price objective on Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Finally, Raymond James increased their target price on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $110.83.

View Our Latest Research Report on Qorvo

Insider Transactions at Qorvo

In other news, SVP Paul J. Fego sold 2,132 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 value of $211,728.92. Following the transaction, the senior vice president now owns 25,201 shares of the company’s stock, valued at $2,502,711.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director John R. Harding sold 941 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the completion of the transaction, the director now directly owns 6,950 shares of the company’s stock, valued at $676,652. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Paul J. Fego sold 2,132 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the transaction, the senior vice president now owns 25,201 shares of the company’s stock, valued at $2,502,711.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,372 shares of company stock valued at $2,877,858. 0.43% of the stock is currently owned by company insiders.

Qorvo Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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