DekaBank Deutsche Girozentrale Has $1.27 Million Holdings in Qorvo (QRVO)

DekaBank Deutsche Girozentrale reduced its stake in Qorvo (NASDAQ:QRVO) by 27.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,723 shares of the semiconductor company’s stock after selling 6,821 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Qorvo were worth $1,270,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. grew its holdings in Qorvo by 1.4% in the 4th quarter. BlackRock Inc. now owns 8,601,788 shares of the semiconductor company’s stock valued at $572,880,000 after buying an additional 120,708 shares in the last quarter. Manning & Napier Group LLC grew its holdings in Qorvo by 29.7% in the 1st quarter. Manning & Napier Group LLC now owns 4,054,232 shares of the semiconductor company’s stock valued at $285,619,000 after buying an additional 927,978 shares in the last quarter. Boston Partners grew its holdings in Qorvo by 47.5% in the 4th quarter. Boston Partners now owns 2,869,210 shares of the semiconductor company’s stock valued at $191,089,000 after buying an additional 924,017 shares in the last quarter. Geode Capital Management LLC grew its holdings in Qorvo by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,400,759 shares of the semiconductor company’s stock valued at $93,101,000 after buying an additional 51,844 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in Qorvo by 63.9% in the 4th quarter. Guggenheim Capital LLC now owns 1,339,659 shares of the semiconductor company’s stock valued at $89,223,000 after buying an additional 522,526 shares in the last quarter. Institutional investors own 98.40% of the company’s stock.

Qorvo opened at $80.61 on Friday, according to Marketbeat.com. Qorvo has a 12-month low of $80.19 and a 12-month high of $80.97. The company has a current ratio of 4.18, a quick ratio of 3.11 and a debt-to-equity ratio of 0.21. The stock has a market cap of $10.13 billion, a P/E ratio of 16.86, a PEG ratio of 1.32 and a beta of 0.93.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, May 2nd. The semiconductor company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.02. Qorvo had a positive return on equity of 12.50% and a negative net margin of 1.35%. The firm had revenue of $665.40 million for the quarter, compared to analyst estimates of $655.67 million. During the same quarter in the prior year, the company earned $0.85 EPS. Qorvo’s revenue was up 3.5% on a year-over-year basis. equities analysts forecast that Qorvo will post 5.08 earnings per share for the current year.

In other Qorvo news, VP Gina Harrison sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $82.83, for a total transaction of $82,830.00. Following the sale, the vice president now owns 14,954 shares in the company, valued at approximately $1,238,639.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel A. Dileo sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $83.97, for a total value of $209,925.00. Following the sale, the director now owns 27,282 shares in the company, valued at approximately $2,290,869.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,054 shares of company stock worth $4,368,103. 0.91% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on QRVO shares. BidaskClub lowered Qorvo from a “hold” rating to a “sell” rating in a research note on Saturday, February 17th. Zacks Investment Research lowered Qorvo from a “hold” rating to a “sell” rating in a research note on Monday, January 22nd. Piper Jaffray started coverage on Qorvo in a research note on Monday, February 26th. They issued an “overweight” rating and a $90.00 price target on the stock. Bank of America lowered Qorvo from a “neutral” rating to an “underperform” rating in a research note on Thursday, March 15th. Finally, Nomura lowered Qorvo from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $75.00 in a research note on Tuesday, March 20th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $81.63.

Qorvo Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PA), low noise amplifiers, switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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