MetLife Investment Advisors LLC decreased its position in Qorvo Inc (NASDAQ:QRVO) by 3.3% during the 1st quarter, HoldingsChannel reports. The fund owned 38,067 shares of the semiconductor company’s stock after selling 1,310 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Qorvo were worth $2,682,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Resources Investment Advisors Inc. increased its stake in Qorvo by 159.6% in the first quarter. Resources Investment Advisors Inc. now owns 1,480 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 910 shares during the last quarter. GWM Advisors LLC purchased a new position in Qorvo in the first quarter valued at approximately $255,000. Stifel Financial Corp purchased a new position in Qorvo in the first quarter valued at approximately $262,000. Rampart Investment Management Company LLC increased its stake in Qorvo by 126.5% in the first quarter. Rampart Investment Management Company LLC now owns 4,012 shares of the semiconductor company’s stock valued at $283,000 after purchasing an additional 2,241 shares during the last quarter. Finally, Wealthsource Partners LLC purchased a new position in Qorvo in the fourth quarter valued at approximately $281,000. 97.51% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Steven E. Creviston sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $72.75, for a total transaction of $436,500.00. Following the transaction, the vice president now directly owns 64,725 shares in the company, valued at $4,708,743.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Walter H. Wilkinson sold 9,510 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $81.09, for a total transaction of $771,165.90. Following the transaction, the director now owns 37,045 shares in the company, valued at $3,003,979.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,404 shares of company stock worth $4,798,110. Insiders own 0.91% of the company’s stock.
Shares of Qorvo opened at $82.05 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.11 and a current ratio of 4.18. The company has a market cap of $10.56 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00. Qorvo Inc has a 12-month low of $62.68 and a 12-month high of $86.84.
Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, May 2nd. The semiconductor company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. The business had revenue of $665.40 million for the quarter, compared to analyst estimates of $655.67 million. Qorvo had a negative net margin of 1.35% and a positive return on equity of 12.50%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. analysts anticipate that Qorvo Inc will post 5.14 earnings per share for the current year.
Several equities analysts have commented on the stock. BidaskClub lowered shares of Qorvo from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. Barclays increased their price target on shares of Qorvo from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, June 18th. Piper Jaffray Companies assumed coverage on shares of Qorvo in a research note on Monday, February 26th. They issued an “overweight” rating and a $90.00 price target on the stock. Loop Capital assumed coverage on shares of Qorvo in a research note on Thursday. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Benchmark assumed coverage on shares of Qorvo in a research note on Friday, June 15th. They issued a “buy” rating and a $95.00 price target on the stock. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.05.
Qorvo Company 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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