Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,931 shares of the semiconductor company’s stock after selling 9,228 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.21% of Qorvo worth $20,859,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of QRVO. Pacer Advisors Inc. increased its stake in Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after purchasing an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC grew its holdings in Qorvo by 35.0% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after buying an additional 550,111 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock valued at $86,290,000 after acquiring an additional 487,621 shares during the last quarter. Caxton Associates LP purchased a new position in shares of Qorvo during the 2nd quarter worth about $34,812,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock worth $55,548,000 after acquiring an additional 236,590 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on QRVO shares. Craig Hallum dropped their price target on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. BNP Paribas lowered Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Wednesday, October 30th. Benchmark cut Qorvo from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Piper Sandler dropped their price target on Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lifted their price objective on Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and an average price target of $102.88.

Insider Activity at Qorvo

In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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 owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Qorvo Stock Up 2.0 %

Shares of Qorvo stock opened at $69.25 on Friday. Qorvo, Inc. has a 1-year low of $64.98 and a 1-year high of $130.99. The company has a market capitalization of $6.55 billion, a PE ratio of -47.43, a P/E/G ratio of 5.31 and a beta of 1.49. 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 business has a 50-day moving average of $90.84 and a 200-day moving average of $103.23.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data 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 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 analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $1.99 EPS. Qorvo’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

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.