New York Life Investment Management LLC Trims Stake in Qorvo, Inc. (NASDAQ:QRVO)

New York Life Investment Management LLC lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVOFree Report) by 1.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,303 shares of the semiconductor company’s stock after selling 152 shares during the period. New York Life Investment Management LLC’s holdings in Qorvo were worth $1,366,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its holdings in Qorvo by 106.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 116 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Qorvo by 75.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 306 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 132 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Qorvo during the 4th quarter worth $34,000. International Assets Investment Management LLC purchased a new position in shares of Qorvo during the 1st quarter worth $40,000. Finally, RVW Wealth LLC purchased a new position in shares of Qorvo during the 3rd quarter worth $53,000. Institutional investors and hedge funds own 85.60% of the company’s stock.

Analysts Set New Price Targets

QRVO has been the topic of a number of recent analyst reports. Summit Insights lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Piper Sandler reduced their price target on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. Mizuho reduced their price target on Qorvo from $107.00 to $97.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Rosenblatt Securities increased their price target on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Susquehanna reduced their price target on Qorvo from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average target price of $111.17.

Get Our Latest Report on Qorvo

Qorvo Trading Up 1.2 %

Qorvo stock opened at $108.61 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $114.97. The firm has a fifty day moving average price of $105.63 and a two-hundred day moving average price of $100.00.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 10,580 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $97.72, for a total transaction of $1,033,877.60. Following the transaction, the senior vice president now owns 29,539 shares in the company, valued at approximately $2,886,551.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Qorvo news, SVP Philip Chesley sold 10,580 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $97.72, for a total transaction of $1,033,877.60. Following the sale, the senior vice president now directly owns 29,539 shares of the company’s stock, valued at $2,886,551.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Walden C. Rhines purchased 5,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was bought at an average cost of $93.19 per share, with a total value of $465,950.00. Following the acquisition, the director now owns 67,145 shares of the company’s stock, valued at $6,257,242.55. The disclosure for this purchase can be found here. Insiders own 0.43% of the company’s stock.

About Qorvo

(Free Report)

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.

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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