DekaBank Deutsche Girozentrale Sells 850 Shares of Qorvo, Inc. (NASDAQ:QRVO)

DekaBank Deutsche Girozentrale lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,377 shares of the semiconductor company’s stock after selling 850 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Qorvo were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. raised its position in shares of Qorvo by 5.6% during the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 96 shares during the period. V Square Quantitative Management LLC raised its position in shares of Qorvo by 5.0% during the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 107 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the period. American Trust raised its position in shares of Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 115 shares during the period. Finally, Empirical Finance LLC raised its position in shares of Qorvo by 3.2% during the first quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 117 shares during the period. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 0.8 %

NASDAQ:QRVO opened at $71.86 on Friday. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of -49.22, a price-to-earnings-growth ratio of 3.98 and a beta of 1.49. Qorvo, Inc. has a twelve month low of $70.39 and a twelve month high of $130.99. The stock’s 50 day moving average price is $102.41 and its two-hundred day moving average price is $107.22. The company has a quick ratio of 1.36, a current ratio of 1.90 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $1.99 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts expect that Qorvo, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QRVO. Bank of America dropped their price target on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday. Morgan Stanley lowered Qorvo from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $130.00 to $120.00 in a research report on Friday, October 11th. Barclays dropped their target price on Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Susquehanna dropped their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Rosenblatt Securities lifted their target price on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.47.

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.