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

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its holdings in Qorvo, Inc. (NASDAQ:QRVO) by 4.4% in the third quarter, HoldingsChannel.com reports. The firm owned 201,931 shares of the semiconductor company’s stock after selling 9,228 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Qorvo were worth $20,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. grew its position in shares of Qorvo by 5.6% during the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after buying an additional 96 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Qorvo by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 107 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the last quarter. Finally, American Trust boosted its position in Qorvo by 5.8% during the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 115 shares during the period. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Bank of America reduced their target price on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen cut their price target on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. UBS Group decreased their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Rosenblatt Securities boosted their price target on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $102.88.

Insider Buying and Selling at Qorvo

In related news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,325,779.67. This represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Qorvo Trading Up 2.0 %

Qorvo stock opened at $69.25 on Friday. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of -47.43, a price-to-earnings-growth ratio of 5.31 and a beta of 1.49. Qorvo, Inc. has a 1 year low of $64.98 and a 1 year high of $130.99. The firm’s 50 day moving average price is $90.84 and its two-hundred day moving average price is $103.23. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $1.99 earnings per share. Qorvo’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts predict that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

Qorvo 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.