Robeco Institutional Asset Management B.V. Increases Stock Position in Qorvo, Inc. (NASDAQ:QRVO)

Robeco Institutional Asset Management B.V. increased its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 78.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 537,730 shares of the semiconductor company's stock after purchasing an additional 236,590 shares during the period. Robeco Institutional Asset Management B.V. owned 0.57% of Qorvo worth $55,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Mather Group LLC. raised its holdings in shares of Qorvo by 5.6% during the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company's stock worth $208,000 after purchasing an additional 96 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 104 shares during the period. V Square Quantitative Management LLC increased its holdings 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 valued at $231,000 after purchasing an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 valued at $30,000 after purchasing an additional 115 shares during the period. Finally, American Trust boosted its holdings in Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company's stock worth $245,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Insider Buying and Selling 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 transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares of the company's stock, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

Qorvo Price Performance

NASDAQ QRVO traded up $0.43 during trading hours on Tuesday, hitting $71.80. 1,177,082 shares of the company's stock traded hands, compared to its average volume of 1,410,207. The company has a market capitalization of $6.79 billion, a PE ratio of -48.98, a PEG ratio of 4.23 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. Qorvo, Inc. has a 52-week low of $70.39 and a 52-week high of $130.99. The firm's 50-day moving average is $101.59 and its 200-day moving average is $106.91.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.99 earnings per share. The business's revenue was down 5.2% compared to the same quarter last year. Equities analysts forecast that Qorvo, Inc. will post 4.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on QRVO shares. Piper Sandler cut their price objective on shares of Qorvo from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Rosenblatt Securities upped their price target on Qorvo from $105.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. BNP Paribas lowered Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 price objective on the stock. in a report on Wednesday, October 30th. Morgan Stanley cut Qorvo from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $130.00 to $120.00 in a research report on Friday, October 11th. Finally, Craig Hallum decreased their target price on Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Qorvo presently has an average rating of "Hold" and an average target price of $104.75.

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.