BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,931 shares of the semiconductor company's stock after selling 9,228 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.21% of Qorvo worth $20,859,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Qorvo during the second quarter valued at $29,000. EverSource Wealth Advisors LLC increased its position in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 115 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Qorvo by 9,333.3% in the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 280 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Qorvo in the second quarter worth about $34,000. Finally, Blue Trust Inc. grew its holdings in shares of Qorvo by 241.6% in the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company's stock worth $40,000 after purchasing an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.
Insider Buying and Selling
In related news, VP Gina Harrison sold 689 shares of the firm'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 transaction of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by company insiders.
Qorvo Price Performance
QRVO traded up $1.38 during trading on Friday, hitting $69.25. The company's stock had a trading volume of 1,885,884 shares, compared to its average volume of 2,462,038. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm's 50 day moving average price is $90.84 and its 200-day moving average price is $103.23. Qorvo, Inc. has a twelve month low of $64.98 and a twelve month high of $130.99.
Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates 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 negative net margin of 3.58% and a positive return on equity of 13.81%. The firm's revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.99 EPS. As a group, equities research analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on QRVO. Raymond James downgraded shares of Qorvo from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Morgan Stanley cut shares of Qorvo from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $130.00 to $120.00 in a research report on Friday, October 11th. Needham & Company LLC started coverage on Qorvo in a research report on Monday, October 28th. They set a "buy" rating and a $135.00 target price on the stock. UBS Group lowered their target price on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Finally, Susquehanna dropped their price target on Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $102.88.
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Qorvo Company Profile
(
Free Report)
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.
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