Robeco Institutional Asset Management B.V. Sells 240,255 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Robeco Institutional Asset Management B.V. decreased its position in Qorvo, Inc. (NASDAQ:QRVO) by 33.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 474,790 shares of the semiconductor company’s stock after selling 240,255 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Qorvo were worth $34,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Qorvo by 16.3% during the 4th quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company’s stock worth $45,429,000 after acquiring an additional 91,120 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Qorvo in the 4th quarter valued at $1,327,000. SBI Securities Co. Ltd. acquired a new stake in shares of Qorvo in the 4th quarter valued at $37,000. American Century Companies Inc. boosted its holdings in shares of Qorvo by 5.0% in the 4th quarter. American Century Companies Inc. now owns 30,467 shares of the semiconductor company’s stock valued at $2,131,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Qorvo by 22.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 14,318 shares of the semiconductor company’s stock valued at $1,001,000 after purchasing an additional 2,638 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Insider Buying and Selling at Qorvo

In other news, Director John R. Harding sold 1,450 shares of the business’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 transaction, the director now owns 7,597 shares in the company, valued at $532,473.73. The trade was a 16.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed a “sell” rating on shares of Qorvo in a report on Tuesday, June 10th. TD Cowen reduced their target price on Qorvo from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Wall Street Zen downgraded Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Needham & Company LLC cut their price objective on Qorvo from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Loop Capital cut their price objective on Qorvo from $90.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Qorvo currently has an average rating of “Hold” and a consensus target price of $91.21.

Qorvo Stock Performance

Shares of Qorvo stock opened at $83.85 on Friday. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 144.57, a PEG ratio of 2.21 and a beta of 1.37. The business has a 50-day simple moving average of $75.45 and a 200 day simple moving average of $73.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Qorvo had a return on equity of 12.48% and a net margin of 1.50%. The business had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. During the same period in the previous year, the company posted $1.39 EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. On average, research analysts anticipate that Qorvo, Inc. will post 4.09 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.