Robeco Institutional Asset Management B.V. Has $34.38 Million Stake in Qorvo, Inc. (NASDAQ:QRVO)

Robeco Institutional Asset Management B.V. decreased its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,790 shares of the semiconductor company's stock after selling 240,255 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.51% of Qorvo worth $34,380,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of QRVO. Huntington National Bank raised its position in 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 last quarter. Truvestments Capital LLC raised 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 valued at $194,000 after purchasing an additional 185 shares during the last quarter. Arizona State Retirement System raised its position in Qorvo by 1.2% in the 4th quarter. Arizona State Retirement System now owns 27,541 shares of the semiconductor company's stock valued at $1,926,000 after purchasing an additional 315 shares during the last quarter. Hillsdale Investment Management Inc. raised 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 purchasing an additional 350 shares during the last quarter. Finally, City Holding Co. bought a new position in Qorvo in the 1st quarter valued at $25,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Up 1.0%

QRVO stock opened at $83.85 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95. The stock has a market capitalization of $7.80 billion, a P/E ratio of 144.57, a P/E/G ratio of 2.21 and a beta of 1.37. The business has a 50-day moving average of $75.45 and a 200-day moving average of $73.41. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. The company had revenue of $869.47 million during the quarter, compared to analysts' expectations of $850.13 million. Qorvo had a return on equity of 12.48% and a net margin of 1.50%. Qorvo's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler restated an "overweight" rating and set a $110.00 target price on shares of Qorvo in a research report on Friday. TD Cowen dropped their target price on Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Needham & Company LLC dropped their target price on Qorvo from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Benchmark upgraded Qorvo from a "hold" rating to a "buy" rating and set a $95.00 target price for the company in a research report on Wednesday, April 30th. Finally, Loop Capital dropped 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 issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Qorvo presently has an average rating of "Hold" and a consensus price target of $91.21.

Insider Buying and Selling

In other Qorvo news, Director John R. Harding sold 1,450 shares of the company's stock in a transaction that occurred on 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 owns 7,597 shares in the company, valued at $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by corporate 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.

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