BNP Paribas Financial Markets Has $9.18 Million Stock Position in Qorvo, Inc. $QRVO

BNP Paribas Financial Markets decreased its stake in Qorvo, Inc. (NASDAQ:QRVO) by 50.4% in the fourth quarter, HoldingsChannel reports. The firm owned 108,609 shares of the semiconductor company’s stock after selling 110,385 shares during the period. BNP Paribas Financial Markets’ holdings in Qorvo were worth $9,179,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Qorvo in the 4th quarter worth about $92,430,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Qorvo during the 4th quarter worth about $80,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Qorvo by 13.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,707 shares of the semiconductor company’s stock worth $144,000 after purchasing an additional 207 shares during the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Qorvo by 53.8% during the 4th quarter. Baker Avenue Asset Management LP now owns 4,772 shares of the semiconductor company’s stock worth $403,000 after purchasing an additional 1,669 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in Qorvo by 298.4% during the fourth quarter. AlphaQuest LLC now owns 34,477 shares of the semiconductor company’s stock valued at $2,914,000 after acquiring an additional 25,824 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research lowered Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. Citigroup boosted their price objective on shares of Qorvo from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. UBS Group raised their price objective on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Wolfe Research lowered shares of Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Three investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.63.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 4,714 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the transaction, the vice president directly owned 24,429 shares in the company, valued at $2,442,900. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,966,127 shares of company stock valued at $198,911,103 in the last ninety days. Company insiders own 0.41% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO opened at $99.89 on Tuesday. Qorvo, Inc. has a 12 month low of $74.92 and a 12 month high of $109.49. The firm has a fifty day simple moving average of $89.87 and a 200 day simple moving average of $85.33. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.53 and a beta of 1.43. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business had revenue of $808.28 million for the quarter, compared to the consensus estimate of $801.31 million. During the same period in the previous year, the company earned $1.42 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts forecast that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.