BNP Paribas Asset Management Holding S.A. Sells 383,735 Shares of Qorvo, Inc. (NASDAQ:QRVO)

BNP Paribas Asset Management Holding S.A. lessened its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 71.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,806 shares of the semiconductor company's stock after selling 383,735 shares during the quarter. BNP Paribas Asset Management Holding S.A. owned 0.16% of Qorvo worth $17,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its position in Qorvo by 8,090.0% in the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company's stock valued at $78,000 after purchasing an additional 809 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Qorvo in the fourth quarter valued at about $104,000. Quadrant Capital Group LLC raised its holdings in Qorvo by 18.7% during the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company's stock worth $107,000 after acquiring an additional 150 shares in the last quarter. Allworth Financial LP boosted its position in Qorvo by 16.7% during the third quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company's stock valued at $135,000 after purchasing an additional 203 shares during the last quarter. Finally, Wahed Invest LLC grew its stake in Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company's stock valued at $147,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on Qorvo from $110.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. Rosenblatt Securities lifted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company a "neutral" rating in a research report on Thursday, February 1st. Raymond James upped their target price on shares of Qorvo from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Benchmark lowered their price target on Qorvo from $136.00 to $128.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Qorvo from $105.00 to $100.00 and set an "underweight" rating on the stock in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $110.83.

Insider Transactions at Qorvo

In related news, Director John R. Harding sold 941 shares of Qorvo stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now directly owns 6,950 shares of the company's stock, valued at $676,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Robert A. Bruggeworth sold 22,299 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $2,214,513.69. Following the completion of the transaction, the chief executive officer now owns 154,714 shares of the company's stock, valued at $15,364,647.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Harding sold 941 shares of Qorvo stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now directly owns 6,950 shares in the company, valued at $676,652. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,372 shares of company stock valued at $2,877,858. Company insiders own 0.43% of the company's stock.

Qorvo Price Performance

Qorvo stock traded down $0.69 during mid-day trading on Tuesday, reaching $97.99. 734,003 shares of the company were exchanged, compared to its average volume of 1,324,185. The company has a fifty day simple moving average of $109.19 and a 200-day simple moving average of $106.58. The firm has a market cap of $9.46 billion, a PE ratio of -134.52, a PEG ratio of 1.19 and a beta of 1.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company had revenue of $941.00 million for the quarter, compared to analysts' expectations of $927.24 million. During the same quarter last year, the business earned $0.11 earnings per share. Qorvo's revenue was up 48.7% on a year-over-year basis. As a group, equities research analysts expect that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

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.