BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Stock Position in Qorvo, Inc. $QRVO

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 97.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 883 shares of the semiconductor company’s stock after selling 30,619 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Qorvo were worth $75,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Jericho Capital Asset Management L.P. purchased a new position in Qorvo during the first quarter worth about $168,980,000. Contour Asset Management LLC purchased a new position in Qorvo during the first quarter worth about $151,698,000. Charles Schwab Investment Management Inc. lifted its position in Qorvo by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 888,814 shares of the semiconductor company’s stock worth $64,359,000 after buying an additional 57,838 shares during the period. Assenagon Asset Management S.A. lifted its position in Qorvo by 82.8% during the second quarter. Assenagon Asset Management S.A. now owns 763,654 shares of the semiconductor company’s stock worth $64,842,000 after buying an additional 345,929 shares during the period. Finally, LSV Asset Management lifted its position in Qorvo by 114.4% during the first quarter. LSV Asset Management now owns 634,381 shares of the semiconductor company’s stock worth $45,936,000 after buying an additional 338,521 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Price Performance

QRVO stock opened at $89.70 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.95. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $106.30. The firm has a market cap of $8.29 billion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 1.59 and a beta of 1.44. The stock has a 50-day simple moving average of $91.19 and a 200-day simple moving average of $84.65.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, November 4th. The semiconductor company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.19. Qorvo had a return on equity of 13.30% and a net margin of 5.95%.During the same period last year, the company earned $1.88 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Paul J. Fego sold 13,612 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $1,293,140.00. Following the completion of the sale, the senior vice president owned 54,558 shares in the company, valued at approximately $5,183,010. This trade represents a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QRVO. Mizuho downgraded Qorvo from a “neutral” rating to an “underperform” rating and set a $75.00 target price on the stock. in a research report on Monday, October 20th. UBS Group raised their price objective on Qorvo from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Needham & Company LLC raised their price objective on Qorvo from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. TD Cowen raised their price objective on Qorvo from $80.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded Qorvo from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.80.

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.