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

Robeco Institutional Asset Management B.V. trimmed its stake in Qorvo, Inc. (NASDAQ:QRVO) by 50.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,865 shares of the semiconductor company’s stock after selling 121,971 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Qorvo were worth $13,611,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of QRVO. Zhang Financial LLC grew its position in Qorvo by 2.7% in the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock valued at $434,000 after buying an additional 102 shares in the last quarter. Wahed Invest LLC grew its position in Qorvo by 7.5% in the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 108 shares in the last quarter. Teacher Retirement System of Texas grew its position in Qorvo by 1.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock valued at $732,000 after buying an additional 116 shares in the last quarter. Quadrant Capital Group LLC grew its position in Qorvo by 18.7% in the 4th quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 150 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Qorvo by 8.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 200 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Stock Down 1.1 %

QRVO stock traded down $1.08 during mid-day trading on Friday, hitting $98.43. The stock had a trading volume of 1,096,327 shares, compared to its average volume of 1,611,151. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. Qorvo, Inc. has a 1-year low of $80.62 and a 1-year high of $121.65. The company has a fifty day moving average of $109.57 and a 200 day moving average of $106.36. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of -134.84, a PEG ratio of 1.19 and a beta of 1.53.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, topping 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 company had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. During the same period in the prior year, the firm posted $0.11 EPS. The business’s revenue was up 48.7% compared to the same quarter last year. On average, equities analysts expect that Qorvo, Inc. will post 5.16 EPS for the current fiscal year.

Insider Transactions at Qorvo

In other news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Harding sold 941 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the sale, the director now owns 6,950 shares of the company’s stock, valued at approximately $676,652. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,372 shares of company stock worth $2,877,858. 0.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QRVO has been the topic of several recent research reports. Barclays lowered their price objective on shares of Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Benchmark dropped their price target on Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Susquehanna reduced their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Rosenblatt Securities increased their price target on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.