Deutsche Bank AG Sells 298,866 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Deutsche Bank AG trimmed its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 53.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,702 shares of the semiconductor company's stock after selling 298,866 shares during the period. Deutsche Bank AG owned 0.28% of Qorvo worth $18,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rakuten Securities Inc. purchased a new position in shares of Qorvo in the fourth quarter worth $28,000. Huntington National Bank grew its holdings in Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Qorvo in the fourth quarter worth about $37,000. Venturi Wealth Management LLC raised its stake in Qorvo by 67.4% during the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 250 shares during the period. Finally, CENTRAL TRUST Co raised its position in shares of Qorvo by 2,621.4% during the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 734 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Qorvo

In related news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total value of $101,630.50. Following the completion of the sale, the director now owns 7,597 shares in the company, valued at $532,473.73. This trade represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company's stock.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $79.44 on Thursday. The stock has a market cap of $7.42 billion, a P/E ratio of 283.71, a P/E/G ratio of 15.57 and a beta of 1.38. The stock has a 50 day moving average of $66.80 and a two-hundred day moving average of $71.61. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The business had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. During the same period in the previous year, the business posted $1.39 earnings per share. The business's revenue was down 7.6% compared to the same quarter last year. On average, research analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on QRVO shares. StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective for the company in a report on Wednesday, April 30th. Barclays lifted their target price on Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Mizuho increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $91.21.

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.

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