Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY reduced its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,486 shares of the semiconductor company’s stock after selling 1,586 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Qorvo were worth $4,353,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. increased its stake in Qorvo by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 109,010 shares of the semiconductor company’s stock worth $7,474,000 after buying an additional 2,279 shares during the last quarter. British Columbia Investment Management Corp raised its position in shares of Qorvo by 105.0% in the first quarter. British Columbia Investment Management Corp now owns 46,806 shares of the semiconductor company’s stock valued at $3,209,000 after buying an additional 23,973 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Qorvo during the first quarter valued at approximately $2,040,000. Daiwa Securities Group Inc. raised its position in shares of Qorvo by 164.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,200 shares of the semiconductor company’s stock valued at $562,000 after buying an additional 5,100 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Qorvo by 1.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,570 shares of the semiconductor company’s stock valued at $716,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 97.51% of the company’s stock.
Shares of Qorvo, Inc. (NASDAQ:QRVO) traded down 0.40% on Friday, reaching $66.62. 965,633 shares of the company were exchanged. The company’s 50-day moving average price is $68.08 and its 200 day moving average price is $68.64. The company’s market cap is $8.46 billion. Qorvo, Inc. has a 12 month low of $48.28 and a 12 month high of $79.34.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The company had revenue of $640.80 million for the quarter, compared to analysts’ expectations of $632.18 million. During the same period last year, the firm posted $1.08 earnings per share. Qorvo’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts expect that Qorvo, Inc. will post $5.57 EPS for the current year.
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QRVO has been the topic of a number of research analyst reports. TheStreet upgraded shares of Qorvo from a “c+” rating to a “b” rating in a research note on Wednesday, May 3rd. Needham & Company LLC raised their price target on shares of Qorvo from $70.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, May 26th. Charter Equity restated a “buy” rating on shares of Qorvo in a research report on Monday, May 15th. Craig Hallum raised their price objective on shares of Qorvo from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, Benchmark Co. began coverage on shares of Qorvo in a report on Tuesday, April 25th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Qorvo currently has a consensus rating of “Hold” and a consensus target price of $72.74.
In other news, VP James L. Klein sold 2,600 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $78.69, for a total value of $204,594.00. Following the transaction, the vice president now owns 40,058 shares of the company’s stock, valued at $3,152,164.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James L. Klein sold 6,424 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $67.84, for a total value of $435,804.16. Following the sale, the vice president now owns 38,905 shares of the company’s stock, valued at approximately $2,639,315.20. The disclosure for this sale can be found here. In the last three months, insiders sold 139,586 shares of company stock worth $10,034,869. 0.91% of the stock is owned by corporate insiders.
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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