Qorvo, Inc. $QRVO Shares Sold by KBC Group NV

KBC Group NV reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 79.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,511 shares of the semiconductor company’s stock after selling 99,745 shares during the quarter. KBC Group NV’s holdings in Qorvo were worth $2,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AQR Arbitrage LLC acquired a new stake in Qorvo in the fourth quarter valued at approximately $118,204,000. Norges Bank acquired a new position in shares of Qorvo during the fourth quarter worth $92,430,000. Marshall Wace LLP lifted its position in shares of Qorvo by 16,066.5% during the third quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock worth $74,197,000 after purchasing an additional 809,591 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Qorvo in the third quarter valued at $66,594,000. Finally, Magnetar Financial LLC boosted its stake in shares of Qorvo by 12,037.4% in the fourth quarter. Magnetar Financial LLC now owns 542,786 shares of the semiconductor company’s stock valued at $45,871,000 after purchasing an additional 538,314 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Qorvo news, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total value of $5,818,882.80. Following the sale, the chief executive officer directly owned 319,880 shares in the company, valued at approximately $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the transaction, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. 0.49% of the stock is owned by corporate insiders.

Qorvo Stock Down 0.3%

Shares of Qorvo stock opened at $86.51 on Friday. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $94.67 and its 200-day simple moving average is $86.58. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.36 and a beta of 1.44. Qorvo, Inc. has a twelve month low of $74.92 and a twelve month high of $109.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts forecast that Qorvo, Inc. will post 5.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Mizuho reissued an “underperform” rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Wall Street Zen downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup lifted their target price on Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $97.07.

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.