Deutsche Bank AG Purchases Shares of 199,589 Qorvo, Inc. $QRVO

Deutsche Bank AG purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 199,589 shares of the semiconductor company's stock, valued at approximately $18,616,000. Deutsche Bank AG owned about 0.23% of Qorvo at the end of the most recent quarter.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of America Corp DE increased its stake in Qorvo by 801.4% during the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company's stock valued at $136,795,000 after buying an additional 1,571,303 shares during the period. LSV Asset Management lifted its stake in shares of Qorvo by 2.3% in the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company's stock worth $131,452,000 after acquiring an additional 34,605 shares during the period. Credit Industriel ET Commercial acquired a new stake in shares of Qorvo in the 4th quarter worth approximately $5,223,000. Fieldview Capital Management LLC boosted its holdings in shares of Qorvo by 570.1% in the fourth quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company's stock valued at $2,058,000 after acquiring an additional 20,718 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Qorvo by 197.2% in the first quarter. Amundi now owns 772,352 shares of the semiconductor company's stock valued at $59,780,000 after acquiring an additional 512,475 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Robert A. Bruggeworth sold 57,957 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the sale, the chief executive officer directly owned 319,880 shares of the company's stock, valued at $32,115,952. The trade was a 15.34% 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. Also, Director Peter A. Feld sold 1,900,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total value of $192,280,000.00. Following the sale, the director directly owned 5,611,526 shares of the company's stock, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,968,623 shares of company stock valued at $199,138,818 over the last ninety days. 0.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on QRVO. Craig Hallum reiterated a "buy" rating and set a $120.00 price objective on shares of Qorvo in a research note on Wednesday, May 6th. Citigroup decreased their price target on Qorvo from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on Qorvo from $85.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Wall Street Zen raised Qorvo from a "hold" rating to a "buy" rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Qorvo in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Qorvo currently has a consensus rating of "Hold" and an average price target of $94.00.

Qorvo Trading Down 0.8%

Qorvo stock opened at $95.56 on Friday. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.39 and a beta of 1.44. Qorvo, Inc. has a 1 year low of $74.92 and a 1 year high of $109.49. The firm's 50 day moving average price is $92.19 and its two-hundred day moving average price is $88.46. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.53. The company had revenue of $784.79 million during the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, research analysts predict that Qorvo, Inc. will post 6.3 EPS for the current fiscal year.

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.

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