Boston Partners Increases Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Boston Partners boosted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,436,328 shares of the semiconductor company’s stock after purchasing an additional 6,558 shares during the period. Boston Partners owned approximately 1.49% of Qorvo worth $161,726,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Barclays PLC grew its position in Qorvo by 646.2% in the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after acquiring an additional 3,347,972 shares during the period. UBS Group AG increased its position in shares of Qorvo by 491.9% during the 3rd quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock worth $120,987,000 after purchasing an additional 1,053,157 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Qorvo by 268.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 537,541 shares of the semiconductor company’s stock worth $51,319,000 after purchasing an additional 391,570 shares during the last quarter. Invesco Ltd. raised its holdings in Qorvo by 18.9% in the 3rd quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock valued at $189,964,000 after buying an additional 316,328 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Qorvo by 201.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 405,143 shares of the semiconductor company’s stock valued at $45,623,000 after buying an additional 270,745 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Insider Activity at Qorvo

In related news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The disclosure for this sale can be found here. Insiders sold a total of 7,322 shares of company stock valued at $837,050 in the last three months. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on QRVO shares. Piper Sandler reduced their price target on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price objective on Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Rosenblatt Securities increased their price target on shares of Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, Craig Hallum lifted their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Qorvo currently has an average rating of “Hold” and an average price target of $110.83.

Qorvo Price Performance

QRVO stock opened at $98.35 on Tuesday. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of -134.73, a PEG ratio of 1.18 and a beta of 1.53. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $110.91 and a 200 day moving average price of $106.14.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The firm had revenue of $941.00 million for 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%. The company’s revenue was up 48.7% on a year-over-year basis. During the same period last year, the firm posted $0.11 EPS. Equities research analysts anticipate that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

About Qorvo

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.