BNP Paribas Arbitrage SA Has $6.06 Million Holdings in Qorvo, Inc. (QRVO)
BNP Paribas Arbitrage SA raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 39.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,762 shares of the semiconductor company’s stock after buying an additional 24,323 shares during the period. BNP Paribas Arbitrage SA owned about 0.07% of Qorvo worth $6,062,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Qorvo by 16.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 433,541 shares of the semiconductor company’s stock valued at $27,452,000 after acquiring an additional 59,712 shares during the period. American Century Companies Inc. purchased a new position in Qorvo during the 2nd quarter valued at about $814,000. Toronto Dominion Bank increased its stake in Qorvo by 26.1% during the 2nd quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock valued at $2,725,000 after purchasing an additional 8,911 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Qorvo by 0.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 38,123 shares of the semiconductor company’s stock valued at $2,414,000 after purchasing an additional 300 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Qorvo by 424.0% during the 2nd quarter. Janus Henderson Group PLC now owns 77,882 shares of the semiconductor company’s stock valued at $4,932,000 after purchasing an additional 63,019 shares in the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.
In related news, VP Gina Harrison sold 5,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $73.41, for a total value of $367,050.00. Following the sale, the vice president now owns 17,230 shares in the company, valued at $1,264,854.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffery R. Gardner sold 1,700 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $71.95, for a total transaction of $122,315.00. Following the completion of the sale, the director now owns 33,046 shares in the company, valued at approximately $2,377,659.70. The disclosure for this sale can be found here. Insiders sold 47,500 shares of company stock worth $3,513,885 in the last 90 days. 0.91% of the stock is currently owned by company insiders.
QRVO has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $86.00 price objective on shares of Qorvo in a research note on Sunday, September 17th. Craig Hallum restated a “buy” rating on shares of Qorvo in a research note on Wednesday, September 13th. Canaccord Genuity raised their price objective on shares of Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Drexel Hamilton restated a “buy” rating and set a $95.00 price objective on shares of Qorvo in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. Qorvo has an average rating of “Hold” and an average target price of $76.74.
Shares of Qorvo, Inc. (NASDAQ:QRVO) opened at $77.33 on Friday. Qorvo, Inc. has a 1 year low of $49.53 and a 1 year high of $81.20. The firm has a market cap of $9,910.00 and a price-to-earnings ratio of 19.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The company had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $810.47 million. During the same quarter in the previous year, the business posted $1.29 earnings per share. Qorvo’s quarterly revenue was down 5.0% on a year-over-year basis. analysts forecast that Qorvo, Inc. will post 4.74 EPS for the current fiscal year.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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