ING Groep NV Has $1.23 Million Stock Position in Qorvo, Inc. $QRVO

ING Groep NV lowered its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 66.4% in the fourth quarter, HoldingsChannel reports. The firm owned 14,500 shares of the semiconductor company’s stock after selling 28,600 shares during the period. ING Groep NV’s holdings in Qorvo were worth $1,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Qorvo by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after acquiring an additional 100,058 shares in the last quarter. State Street Corp increased its position in Qorvo by 5.0% in the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after acquiring an additional 175,031 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Qorvo by 16.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,727,103 shares of the semiconductor company’s stock valued at $157,298,000 after acquiring an additional 243,147 shares in the last quarter. LSV Asset Management increased its position in Qorvo by 2.3% in the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after acquiring an additional 34,605 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Qorvo by 20.2% in the 2nd quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock valued at $128,975,000 after acquiring an additional 255,068 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Down 2.0%

Qorvo stock opened at $97.94 on Wednesday. The company’s 50 day simple moving average is $90.28 and its 200 day simple moving average is $85.45. Qorvo, Inc. has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $801.31 million. During the same quarter last year, the firm earned $1.42 EPS. Qorvo’s quarterly revenue was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 5.87 EPS for the current year.

Insider Activity

In related news, SVP Paul J. Fego sold 2,500 shares of Qorvo stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the transaction, the senior vice president owned 71,038 shares of the company’s stock, valued at $7,103,800. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gina Harrison sold 4,714 shares of Qorvo stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,966,127 shares of company stock worth $198,911,103 over the last quarter. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Zacks Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Wolfe Research cut shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Craig Hallum restated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. Finally, Mizuho restated an “underperform” rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Qorvo has an average rating of “Hold” and an average target price of $96.63.

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.