KBC Group NV Has $75.33 Million Position in Qorvo, Inc. (NASDAQ:QRVO)

KBC Group NV increased its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 144.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,077,196 shares of the semiconductor company’s stock after purchasing an additional 637,087 shares during the period. KBC Group NV owned approximately 1.14% of Qorvo worth $75,328,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its holdings in shares of Qorvo by 65.5% during the second quarter. Public Sector Pension Investment Board now owns 3,645 shares of the semiconductor company’s stock worth $423,000 after buying an additional 1,443 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Qorvo by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 18,492 shares of the semiconductor company’s stock valued at $2,146,000 after purchasing an additional 6,881 shares during the last quarter. AQR Capital Management LLC raised its stake in Qorvo by 78.2% during the 2nd quarter. AQR Capital Management LLC now owns 287,596 shares of the semiconductor company’s stock valued at $32,737,000 after purchasing an additional 126,170 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Qorvo by 21.9% in the 2nd quarter. APG Asset Management N.V. now owns 101,243 shares of the semiconductor company’s stock valued at $10,962,000 after purchasing an additional 18,178 shares during the period. Finally, MBB Public Markets I LLC acquired a new stake in Qorvo in the 2nd quarter worth $817,000. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on QRVO shares. Bank of America cut their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, October 30th. Piper Sandler reduced their price objective on Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. BNP Paribas cut Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research report on Wednesday, October 30th. Barclays reduced their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, UBS Group lowered their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average price target of $98.24.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $88.94 on Monday. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a 50-day moving average of $72.18 and a two-hundred day moving average of $92.38. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last announced 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 positive return on equity of 13.81% and a negative net margin of 3.58%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.99 earnings per share. On average, equities research analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current 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.