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

ING Groep NV cut its position in Qorvo, Inc. (NASDAQ:QRVO) by 66.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,500 shares of the semiconductor company’s stock after selling 28,600 shares during the quarter. ING Groep NV’s holdings in Qorvo were worth $1,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of QRVO. Stance Capital LLC acquired a new position in Qorvo in the 3rd quarter valued at $27,000. Sound Income Strategies LLC grew its stake in Qorvo by 952.8% in the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 343 shares during the last quarter. Advisory Services Network LLC acquired a new position in Qorvo in the 3rd quarter valued at $36,000. Clearstead Advisors LLC grew its stake in Qorvo by 93.3% in the 3rd quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 208 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Qorvo in the 4th quarter valued at $39,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on QRVO shares. Wolfe Research lowered shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Citigroup increased their price target on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Craig Hallum reissued a “buy” rating and issued a $120.00 price target on shares of Qorvo in a report on Wednesday, May 6th. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and an average target price of $96.63.

Qorvo Price Performance

NASDAQ:QRVO opened at $97.94 on Wednesday. The company has a 50-day moving average of $90.28 and a 200-day moving average of $85.45. The company 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. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24.

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

Insider Activity

In related news, CEO Robert A. Bruggeworth sold 57,957 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the completion of the sale, the chief executive officer owned 319,880 shares in the company, valued at $32,115,952. This trade represents a 15.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the sale, the vice president owned 24,429 shares of the company’s stock, valued at $2,442,900. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,966,127 shares of company stock worth $198,911,103. Company insiders own 0.41% of the company’s stock.

Qorvo 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.