Fifth Third Bancorp Has $229,000 Stake in Qorvo, Inc. (NASDAQ:QRVO)

Fifth Third Bancorp lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 57.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,278 shares of the semiconductor company's stock after selling 4,393 shares during the period. Fifth Third Bancorp's holdings in Qorvo were worth $229,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QRVO. Larson Financial Group LLC raised its holdings in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Qorvo during the 3rd quarter worth approximately $41,000. Versant Capital Management Inc raised its stake in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 286 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 104 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Qorvo by 33.8% in the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company's stock worth $76,000 after buying an additional 186 shares during the period. 88.57% of the stock is owned by institutional investors.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares of the company's stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on QRVO shares. Stifel Nicolaus dropped their price target on Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Loop Capital upped their target price on Qorvo from $80.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Barclays reduced their price target on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Finally, Craig Hallum decreased their target price on shares of Qorvo from $142.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Qorvo currently has an average rating of "Hold" and an average target price of $95.84.

Qorvo Stock Performance

QRVO stock traded up $0.23 during midday trading on Tuesday, hitting $81.89. 1,530,883 shares of the company traded hands, compared to its average volume of 3,666,298. The business has a 50 day simple moving average of $74.52 and a 200-day simple moving average of $90.40. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 292.46, a price-to-earnings-growth ratio of 16.76 and a beta of 1.41.

Qorvo 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.