Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by KBC Group NV

KBC Group NV lessened its stake in Qorvo, Inc. (NASDAQ:QRVO) by 41.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 440,109 shares of the semiconductor company’s stock after selling 306,650 shares during the period. KBC Group NV owned 0.47% of Qorvo worth $45,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QRVO. MQS Management LLC acquired a new position in Qorvo during the 3rd quarter worth approximately $246,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Qorvo by 4.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 219,484 shares of the semiconductor company’s stock valued at $22,673,000 after buying an additional 8,371 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Qorvo in the third quarter valued at approximately $234,000. Versor Investments LP grew its holdings in Qorvo by 232.3% during the third quarter. Versor Investments LP now owns 7,400 shares of the semiconductor company’s stock worth $764,000 after acquiring an additional 5,173 shares during the period. Finally, GDS Wealth Management purchased a new position in Qorvo in the third quarter worth $2,171,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price target on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 30th. TD Cowen decreased their target price on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Bank of America lowered their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. Loop Capital began coverage on Qorvo in a research note on Monday. They set a “hold” rating and a $73.00 price target for the company. Finally, Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.88.

Qorvo Trading Up 1.1 %

Shares of NASDAQ QRVO opened at $66.30 on Friday. Qorvo, Inc. has a 1-year low of $65.35 and a 1-year high of $130.99. The company has a 50-day moving average of $94.75 and a two-hundred day moving average of $104.68. The company has a market cap of $6.27 billion, a PE ratio of -45.41, a P/E/G ratio of 5.26 and a beta of 1.49. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $1.99 earnings per share. Qorvo’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate 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.