KBC Group NV Has $41.62 Million Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

KBC Group NV decreased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 46.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 574,737 shares of the semiconductor company's stock after selling 502,459 shares during the quarter. KBC Group NV owned 0.62% of Qorvo worth $41,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank raised its position 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 in the last quarter. Truvestments Capital LLC grew its position in Qorvo by 7.2% in the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock worth $194,000 after purchasing an additional 185 shares during the last quarter. Arizona State Retirement System raised its stake in Qorvo by 1.2% during the 4th quarter. Arizona State Retirement System now owns 27,541 shares of the semiconductor company's stock valued at $1,926,000 after acquiring an additional 315 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in Qorvo by 5.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 7,360 shares of the semiconductor company's stock valued at $515,000 after buying an additional 350 shares in the last quarter. Finally, City Holding Co. acquired a new position in shares of Qorvo during the first quarter valued at approximately $25,000. Hedge funds and other institutional investors own 88.57% of the company's stock.

Insider Buying and Selling

In other Qorvo 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 completion of the transaction, the director directly owned 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 Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by company insiders.

Qorvo Trading Up 1.6%

QRVO traded up $1.37 during trading on Wednesday, reaching $87.45. 430,243 shares of the company's stock were exchanged, compared to its average volume of 2,232,132. The firm has a market capitalization of $8.12 billion, a PE ratio of 150.65, a P/E/G ratio of 2.26 and a beta of 1.39. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99. The company's fifty day moving average price is $76.53 and its 200-day moving average price is $73.66. 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 (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 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 firm had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. During the same period last year, the company posted $1.39 EPS. The business's quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on QRVO. Barclays raised their price objective on shares of Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Wall Street Zen cut shares of Qorvo from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. 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 report on Wednesday, April 30th. Mizuho lifted their price target on Qorvo from $75.00 to $84.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Loop Capital reduced their target price on Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $90.89.

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.