BNP Paribas Financial Markets Raises Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

BNP Paribas Financial Markets increased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 20.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 349,719 shares of the semiconductor company's stock after acquiring an additional 58,608 shares during the period. BNP Paribas Financial Markets owned about 0.37% of Qorvo worth $36,126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QRVO. GDS Wealth Management bought a new stake in shares of Qorvo during the 3rd quarter valued at $2,171,000. Robeco Institutional Asset Management B.V. lifted its position in Qorvo by 78.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after purchasing an additional 236,590 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Qorvo during the third quarter valued at about $2,507,000. Quest Partners LLC increased its position in Qorvo by 504.6% in the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company's stock worth $1,198,000 after buying an additional 9,678 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Qorvo by 21.9% in the second quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company's stock worth $10,962,000 after buying an additional 18,178 shares during the period. Hedge funds and other institutional investors own 88.57% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on QRVO shares. StockNews.com lowered shares of Qorvo from a "buy" rating to a "hold" rating in a report on Thursday, October 31st. BNP Paribas cut shares of Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 price objective for the company. in a research note on Wednesday, October 30th. Craig Hallum lowered their target price on shares of Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. TD Cowen dropped their target price on shares of Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Finally, Bank of America decreased their price target on Qorvo from $115.00 to $80.00 and set an "underperform" rating on the stock in a report on Wednesday, October 30th. Two equities research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $102.88.

Qorvo Price Performance

Shares of QRVO stock traded up $0.65 on Friday, reaching $69.05. The company's stock had a trading volume of 1,018,977 shares, compared to its average volume of 1,450,661. The stock's fifty day simple moving average is $86.84 and its 200-day simple moving average is $102.06. 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 $6.53 billion, a price-to-earnings ratio of -47.29, a price-to-earnings-growth ratio of 5.48 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business's revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted $1.99 EPS. Analysts forecast that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares of the company's stock, valued at $2,325,779.67. The trade was 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 through this hyperlink. 0.46% of the stock is currently owned by insiders.

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.