BNP Paribas Financial Markets Has $31.03 Million Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

BNP Paribas Financial Markets grew its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 443,673 shares of the semiconductor company's stock after purchasing an additional 93,954 shares during the quarter. BNP Paribas Financial Markets owned about 0.48% of Qorvo worth $31,026,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Qorvo during the 4th quarter valued at about $28,000. Huntington National Bank grew its stake in shares of Qorvo by 47.1% in the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Qorvo in the 4th quarter worth approximately $37,000. Venturi Wealth Management LLC lifted 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 worth $43,000 after buying an additional 250 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock valued at $53,000 after buying an additional 734 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

QRVO has been the subject of a number of analyst reports. Barclays lifted their price objective on Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price objective on shares of Qorvo in a report on Monday, April 28th. Mizuho lifted their price objective on Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Loop Capital lowered their target price on Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $91.21.

Qorvo Trading Up 1.1 %

Shares of QRVO traded up $0.82 during trading hours on Friday, reaching $73.19. The stock had a trading volume of 1,374,897 shares, compared to its average volume of 2,173,079. The firm has a 50-day moving average of $66.45 and a 200 day moving average of $71.65. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.84 billion, a P/E ratio of 261.39, a P/E/G ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $130.99.

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

Insider Buying and Selling

In other news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total value of $101,630.50. Following the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

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.