Qorvo, Inc. (NASDAQ:QRVO) Shares Sold by People s United Financial Inc.

People s United Financial Inc. lowered its stake in Qorvo, Inc. (NASDAQ:QRVOGet Rating) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 85,091 shares of the semiconductor company’s stock after selling 1,721 shares during the quarter. People s United Financial Inc.’s holdings in Qorvo were worth $13,307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QRVO. Amundi Pioneer Asset Management Inc. lifted its holdings in Qorvo by 46.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 87,061 shares of the semiconductor company’s stock valued at $6,244,000 after acquiring an additional 27,692 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Qorvo by 2.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,307 shares of the semiconductor company’s stock valued at $3,228,000 after acquiring an additional 427 shares during the last quarter. B. Riley Wealth Management Inc. acquired a new stake in Qorvo in the 3rd quarter valued at about $678,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Qorvo by 3.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 11,098 shares of the semiconductor company’s stock valued at $1,855,000 after acquiring an additional 365 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in Qorvo by 2.4% in the 3rd quarter. First Republic Investment Management Inc. now owns 58,761 shares of the semiconductor company’s stock valued at $9,824,000 after acquiring an additional 1,401 shares during the last quarter. 85.87% of the stock is owned by institutional investors and hedge funds.

In related news, Director Roderick Nelson sold 4,761 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $104.45, for a total transaction of $497,286.45. Following the sale, the director now owns 5,595 shares of the company’s stock, valued at approximately $584,397.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul J. Fego sold 1,145 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $104.45, for a total value of $119,595.25. Following the sale, the vice president now directly owns 37,190 shares in the company, valued at approximately $3,884,495.50. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

QRVO stock traded down $1.65 during midday trading on Monday, reaching $106.96. 32,376 shares of the company’s stock traded hands, compared to its average volume of 1,400,382. The company has a 50-day simple moving average of $116.68 and a two-hundred day simple moving average of $134.89. Qorvo, Inc. has a 1-year low of $98.23 and a 1-year high of $201.46. The company has a market cap of $11.60 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.70 and a beta of 1.34. The company has a quick ratio of 2.51, a current ratio of 3.63 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVOGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The semiconductor company reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.41. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Qorvo had a return on equity of 28.07% and a net margin of 22.24%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $2.59 EPS. Equities research analysts forecast that Qorvo, Inc. will post 9.65 EPS for the current year.

Several brokerages have commented on QRVO. Barclays decreased their target price on shares of Qorvo from $200.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 25th. StockNews.com initiated coverage on shares of Qorvo in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Bank of America cut their target price on shares of Qorvo from $180.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, February 3rd. Susquehanna Bancshares cut their target price on shares of Qorvo from $150.00 to $120.00 in a research report on Thursday, May 5th. Finally, KGI Securities downgraded shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $140.00 target price for the company. in a research report on Friday, April 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $162.09.

Qorvo Profile (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

See Also

Want to see what other hedge funds are holding QRVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qorvo, Inc. (NASDAQ:QRVOGet Rating).

Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.