Toronto Dominion Bank Has $893,000 Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

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

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in Qorvo by 102.0% during the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock worth $251,577,000 after buying an additional 1,816,811 shares during the last quarter. FIL Ltd raised its stake in shares of Qorvo by 5.3% in the fourth quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company's stock worth $232,464,000 after purchasing an additional 166,461 shares during the last quarter. Vulcan Value Partners LLC lifted its stake in Qorvo by 53.7% during the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after acquiring an additional 902,353 shares in the last quarter. Amundi boosted its holdings in Qorvo by 84.4% during the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after purchasing an additional 981,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Qorvo by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock worth $99,280,000 after purchasing an additional 264,167 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Trading Down 0.0%

Shares of NASDAQ:QRVO traded down $0.03 during trading on Wednesday, reaching $79.23. The stock had a trading volume of 2,400,317 shares, compared to its average volume of 2,225,900. The business has a fifty day moving average price of $68.23 and a 200-day moving average price of $71.94. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. The stock has a market cap of $7.37 billion, a P/E ratio of 282.96, a PEG ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.42. The company had revenue of $869.47 million during the quarter, compared to the consensus estimate of $850.13 million. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. Qorvo's revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. As a group, analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Insider Activity at Qorvo

In other news, Director John R. Harding sold 1,450 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the completion of the transaction, the director now owns 7,597 shares in the company, valued at approximately $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. TD Cowen dropped their price objective on Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Barclays upped their target price on shares of Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Needham & Company LLC cut their price target on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, 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. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $91.21.

Qorvo Company 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.