Robeco Institutional Asset Management B.V. Acquires 177,315 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Robeco Institutional Asset Management B.V. grew its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 33.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 715,045 shares of the semiconductor company’s stock after purchasing an additional 177,315 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Qorvo were worth $50,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Qorvo by 377.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock valued at $57,125,000 after buying an additional 645,829 shares in the last quarter. KBC Group NV increased its holdings in shares of Qorvo by 144.8% during the 4th quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock valued at $75,328,000 after acquiring an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock valued at $86,290,000 after acquiring an additional 487,621 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Qorvo in the 3rd quarter worth approximately $22,726,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Qorvo during the second quarter worth approximately $20,887,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QRVO. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus decreased their price target on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Citigroup decreased their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research note on Wednesday. Finally, Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $85.00 to $110.00 in a research report on Monday. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Stock Performance

Shares of NASDAQ:QRVO opened at $86.03 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The business’s fifty day moving average price is $73.41 and its two-hundred day moving average price is $91.84. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of -58.92, a price-to-earnings-growth ratio of 6.98 and a beta of 1.40.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, analysts predict that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

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.