Axa S.A. Sells 25,777 Shares of Qorvo, Inc. (NASDAQ:QRVO)

AXA S.A. trimmed its position in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,039 shares of the semiconductor company's stock after selling 25,777 shares during the period. AXA S.A.'s holdings in Qorvo were worth $2,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Alexander Randolph Advisory Inc. raised its holdings in shares of Qorvo by 1.0% in the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after purchasing an additional 140 shares in the last quarter. Huntington National Bank raised its holdings in shares of Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Truvestments Capital LLC lifted its holdings in Qorvo by 7.2% in the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock valued at $194,000 after acquiring an additional 185 shares during the period. Venturi Wealth Management LLC grew its position in shares of Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 250 shares during the period. Finally, Arizona State Retirement System increased its holdings in Qorvo by 1.2% in the 4th quarter. Arizona State Retirement System now owns 27,541 shares of the semiconductor company's stock worth $1,926,000 after acquiring an additional 315 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Benchmark raised shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective for the company in a research note on Wednesday, April 30th. Stifel Nicolaus set a $75.00 target price on shares of Qorvo in a report on Monday, April 28th. TD Cowen lowered their target price on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Mizuho upped their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Finally, Piper Sandler raised Qorvo from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $85.00 to $110.00 in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $91.21.

Insider Buying and Selling

In other news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the sale, the director now owns 7,597 shares in the company, valued at $532,473.73. The trade was a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

Qorvo Stock Performance

Shares of Qorvo stock traded up $5.23 during trading hours on Monday, reaching $78.42. The company's stock had a trading volume of 3,319,439 shares, compared to its average volume of 2,177,663. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99. The stock has a market cap of $7.32 billion, a P/E ratio of 280.07, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The company's 50 day simple moving average is $66.45 and its 200 day simple moving average is $71.65.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The business had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. During the same quarter last year, the business earned $1.39 earnings per share. The business's revenue for the quarter was down 7.6% on a year-over-year basis. As a group, analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

Qorvo Company 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.