Allianz Asset Management GmbH Purchases 52,916 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Allianz Asset Management GmbH grew its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 463,530 shares of the semiconductor company’s stock after buying an additional 52,916 shares during the period. Allianz Asset Management GmbH owned 0.48% of Qorvo worth $52,198,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Zhang Financial LLC boosted its holdings in shares of Qorvo by 2.7% during the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock valued at $434,000 after acquiring an additional 102 shares during the last quarter. Wahed Invest LLC grew its position in Qorvo by 7.5% in the 3rd quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 108 shares during the period. Teacher Retirement System of Texas raised its stake in Qorvo by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock valued at $732,000 after buying an additional 116 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Qorvo by 18.7% during the 4th quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 150 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Qorvo by 8.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,467 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 200 shares during the period. 88.57% of the stock is currently owned by institutional investors.

Qorvo Price Performance

QRVO traded up $0.32 during trading hours on Thursday, hitting $96.60. The company’s stock had a trading volume of 38,046 shares, compared to its average volume of 1,307,117. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $106.95 and its 200-day moving average price is $106.91. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of -131.89, a P/E/G ratio of 0.95 and a beta of 1.53.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The firm had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. During the same quarter last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. Sell-side analysts expect that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QRVO has been the topic of several research reports. Susquehanna dropped their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Rosenblatt Securities raised their target price on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Barclays lowered their target price on Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group reduced their price target on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Needham & Company LLC reduced their target price on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Qorvo presently has an average rating of “Hold” and an average target price of $110.83.

Insider Buying and Selling at Qorvo

In related news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Paul J. Fego sold 2,132 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $211,728.92. Following the sale, the senior vice president now directly owns 25,201 shares of the company’s stock, valued at $2,502,711.31. The disclosure for this sale can be found here. Insiders have sold 33,093 shares of company stock worth $3,349,958 over the last quarter. Insiders own 0.43% of the company’s stock.

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.