KBC Group NV Acquires 637,087 Shares of Qorvo, Inc. (NASDAQ:QRVO)

KBC Group NV raised its stake in Qorvo, Inc. (NASDAQ:QRVO) by 144.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,077,196 shares of the semiconductor company’s stock after acquiring an additional 637,087 shares during the period. KBC Group NV’s holdings in Qorvo were worth $75,328,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QRVO. GDS Wealth Management bought a new stake in Qorvo in the 3rd quarter valued at $2,171,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Qorvo by 78.6% in the 3rd 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 during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Qorvo during the third quarter worth about $2,507,000. Quest Partners LLC grew its holdings in shares of Qorvo by 504.6% during 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, Virtu Financial LLC acquired a new stake in Qorvo in the 3rd quarter valued at approximately $1,211,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $88.94 on Monday. Qorvo, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99. The stock has a 50 day moving average of $72.18 and a 200-day moving average of $92.38. 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) last released 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 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 company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.99 earnings per share. On average, equities analysts expect that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QRVO. Loop Capital initiated coverage on Qorvo in a research report on Monday, November 11th. They set a “hold” rating and a $73.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a report on Wednesday, October 30th. Barclays lowered their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Susquehanna reduced their price objective 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, 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. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $98.24.

Insider Activity at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.

Qorvo Profile

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.