ING Groep NV Has $1.31 Million Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

ING Groep NV cut its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 69.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,687 shares of the semiconductor company's stock after selling 29,305 shares during the quarter. ING Groep NV's holdings in Qorvo were worth $1,311,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. MQS Management LLC bought a new position in shares of Qorvo during the third quarter valued at approximately $246,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Qorvo by 4.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 219,484 shares of the semiconductor company's stock valued at $22,673,000 after purchasing an additional 8,371 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Qorvo during the third quarter valued at approximately $234,000. Versor Investments LP grew its holdings in shares of Qorvo by 232.3% during the third quarter. Versor Investments LP now owns 7,400 shares of the semiconductor company's stock valued at $764,000 after purchasing an additional 5,173 shares during the last quarter. Finally, GDS Wealth Management bought a new position in Qorvo in the 3rd quarter worth approximately $2,171,000. 88.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on QRVO shares. Benchmark lowered Qorvo from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Needham & Company LLC started coverage on Qorvo in a report on Monday, October 28th. They issued a "buy" rating and a $135.00 price objective for the company. The Goldman Sachs Group increased their price objective on Qorvo from $105.00 to $118.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. 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, TD Cowen decreased their price objective on Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. 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. Based on data from MarketBeat.com, Qorvo has an average rating of "Hold" and an average price target of $102.88.

Insider Activity at Qorvo

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 value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by company insiders.

Qorvo Stock Up 1.0 %

Shares of NASDAQ QRVO traded up $0.67 during mid-day trading on Monday, reaching $66.28. The company had a trading volume of 809,612 shares, compared to its average volume of 1,427,818. Qorvo, Inc. has a twelve month low of $65.35 and a twelve month high of $130.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The stock has a market capitalization of $6.27 billion, a PE ratio of -44.94, a price-to-earnings-growth ratio of 5.26 and a beta of 1.49. The stock's 50 day moving average is $93.98 and its 200-day moving average is $104.16.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $1.99 earnings per share. The business's quarterly revenue was down 5.2% on a year-over-year basis. As a group, equities analysts anticipate 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.