Toronto Dominion Bank Sells 37,381 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Toronto Dominion Bank lessened its holdings in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 74.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,774 shares of the semiconductor company's stock after selling 37,381 shares during the period. Toronto Dominion Bank's holdings in Qorvo were worth $893,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Loop Capital decreased their price target on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price objective on shares of Qorvo in a report on Monday, April 28th. Citigroup decreased their target price on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating for the company in a research report on Wednesday, January 29th. Finally, Wall Street Zen raised shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Qorvo currently has an average rating of "Hold" and an average price target of $91.21.

Insiders Place Their Bets

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

Qorvo Trading Up 0.6%

Qorvo stock traded up $0.48 during mid-day trading on Thursday, reaching $76.39. 479,583 shares of the company traded hands, compared to its average volume of 2,194,875. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 272.75, a P/E/G ratio of 15.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The firm's 50 day moving average price is $67.88 and its 200 day moving average price is $71.58.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced 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. The company had revenue of $869.47 million for the quarter, compared to analysts' expectations of $850.13 million. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. Qorvo's revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 EPS. On average, analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

About Qorvo

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.