Achmea Investment Management B.V. Has $769,000 Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Achmea Investment Management B.V. reduced its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 51.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,616 shares of the semiconductor company's stock after selling 11,477 shares during the quarter. Achmea Investment Management B.V.'s holdings in Qorvo were worth $769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock valued at $251,577,000 after buying an additional 1,816,811 shares during the period. Norges Bank acquired a new position in shares of Qorvo during the 4th quarter valued at $71,825,000. Amundi boosted its stake in Qorvo by 84.4% during the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after acquiring an additional 981,519 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Qorvo by 8,535.6% in the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock worth $65,153,000 after purchasing an additional 920,901 shares during the period. Finally, Vulcan Value Partners LLC increased its stake in Qorvo by 53.7% in the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after purchasing an additional 902,353 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Wall Street Analyst Weigh In

QRVO has been the topic of a number of research reports. Stifel Nicolaus set a $75.00 price target on Qorvo in a research note on Monday, April 28th. Wall Street Zen downgraded shares of Qorvo from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a report on Wednesday, April 30th. Needham & Company LLC reduced their price objective on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Loop Capital decreased their target price on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $91.21.

Insider Activity

In related news, Director John R. Harding sold 1,450 shares of the company'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 directly owns 7,597 shares in the company, valued at approximately $532,473.73. This represents a 16.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company's stock.

Qorvo Price Performance

QRVO opened at $83.85 on Monday. The firm has a market cap of $7.79 billion, a P/E ratio of 144.57, a PEG ratio of 2.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.95 and a current ratio of 2.77. Qorvo, Inc. has a fifty-two week low of $49.37 and a fifty-two week high of $130.99. The firm has a 50-day moving average of $75.45 and a 200 day moving average of $73.47.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.42. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The company had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. During the same quarter last year, the business posted $1.39 EPS. Qorvo's quarterly revenue was down 7.6% compared to the same quarter last year. On average, research analysts expect that Qorvo, Inc. will post 4.09 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.