KBC Group NV Has $45.46 Million Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

KBC Group NV reduced its stake in Qorvo, Inc. (NASDAQ:QRVO) by 41.1% during the 3rd quarter, Holdings Channel reports. The firm owned 440,109 shares of the semiconductor company’s stock after selling 306,650 shares during the period. KBC Group NV’s holdings in Qorvo were worth $45,463,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. GDS Wealth Management bought a new stake in Qorvo in the third quarter valued at approximately $2,171,000. Robeco Institutional Asset Management B.V. increased its position in shares of Qorvo by 78.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after buying an additional 236,590 shares in the last quarter. Bessemer Group Inc. raised its stake in Qorvo by 1,361.9% during the 1st quarter. Bessemer Group Inc. now owns 13,596 shares of the semiconductor company’s stock worth $1,562,000 after buying an additional 12,666 shares during the period. Canada Pension Plan Investment Board raised its stake in Qorvo by 23.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 370,200 shares of the semiconductor company’s stock worth $42,510,000 after buying an additional 71,200 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in Qorvo by 21.9% during the second quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company’s stock worth $10,962,000 after acquiring an additional 18,178 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on QRVO shares. Loop Capital assumed coverage on Qorvo in a report on Monday. They issued a “hold” rating and a $73.00 price target for the company. Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. TD Cowen cut their price target on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average price target of $102.88.

Qorvo Trading Up 1.1 %

Qorvo stock opened at $66.30 on Friday. The company has a market cap of $6.27 billion, a price-to-earnings ratio of -45.41, a P/E/G ratio of 5.26 and a beta of 1.49. The firm has a 50-day moving average of $94.75 and a 200-day moving average of $104.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. Qorvo, Inc. has a one year low of $65.35 and a one year 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 the consensus estimate of $1.85 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 earnings per share. On average, equities analysts expect that Qorvo, Inc. will post 3.37 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.