BNP Paribas Financial Markets Acquires 351 Shares of Qorvo, Inc. (NASDAQ:QRVO)

BNP Paribas Financial Markets lifted its position in Qorvo, Inc. (NASDAQ:QRVO) by 0.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 407,902 shares of the semiconductor company’s stock after purchasing an additional 351 shares during the period. BNP Paribas Financial Markets owned 0.42% of Qorvo worth $46,839,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. FIL Ltd boosted its holdings in shares of Qorvo by 4.5% in the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock valued at $312,901,000 after purchasing an additional 120,213 shares during the period. Boston Partners boosted its holdings in shares of Qorvo by 0.5% in the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock valued at $161,726,000 after purchasing an additional 6,558 shares during the period. Norges Bank purchased a new stake in shares of Qorvo in the fourth quarter valued at approximately $118,120,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Qorvo by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 916,073 shares of the semiconductor company’s stock valued at $103,159,000 after purchasing an additional 22,951 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Qorvo by 161.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 857,596 shares of the semiconductor company’s stock valued at $96,574,000 after purchasing an additional 529,309 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ QRVO traded up $1.62 during mid-day trading on Friday, hitting $118.75. The stock had a trading volume of 907,005 shares, compared to its average volume of 1,449,493. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. The company has a 50 day moving average of $105.29 and a two-hundred day moving average of $108.91. Qorvo, Inc. has a twelve month low of $80.62 and a twelve month high of $121.65. The firm has a market cap of $11.28 billion, a PE ratio of -162.67, a PEG ratio of 1.13 and a beta of 1.46.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The firm had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s revenue was up 48.7% on a year-over-year basis. Research analysts predict that Qorvo, Inc. will post 5.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Qorvo news, Director John R. Harding sold 941 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now directly owns 6,950 shares of the company’s stock, valued at approximately $676,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Qorvo news, CEO Robert A. Bruggeworth sold 22,299 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the sale, the chief executive officer now directly owns 154,714 shares of the company’s stock, valued at approximately $15,364,647.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Harding sold 941 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now directly owns 6,950 shares in the company, valued at $676,652. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,372 shares of company stock valued at $4,517,858. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

QRVO has been the subject of a number of analyst reports. Mizuho lowered their target price on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group lowered their target price on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. StockNews.com lowered Qorvo from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Qorvo in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lowered their target price on Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Qorvo presently has an average rating of “Hold” and an average price target of $110.83.

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.