Qorvo Inc (QRVO) Shares Obtained by Van ECK Associates Corp

Qorvo Inc (QRVO) Shares Obtained by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in Qorvo Inc (NASDAQ:QRVO) by 59.0% during the first quarter, Holdings Channel reports. The fund owned 148,791 shares of the semiconductor company’s stock after buying an additional 55,193 shares during the period. Van ECK Associates Corp’s holdings in Qorvo were worth $10,201,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of QRVO. Norges Bank purchased a new stake in Qorvo during the fourth quarter valued at about $56,698,000. Vulcan Value Partners LLC raised its position in Qorvo by 20.9% in the fourth quarter. Vulcan Value Partners LLC now owns 5,803,082 shares of the semiconductor company’s stock worth $305,996,000 after buying an additional 1,001,936 shares during the period. Todd Asset Management LLC raised its position in Qorvo by 182.7% in the first quarter. Todd Asset Management LLC now owns 699,334 shares of the semiconductor company’s stock worth $47,947,000 after buying an additional 451,987 shares during the period. Strs Ohio raised its position in Qorvo by 105.3% in the first quarter. Strs Ohio now owns 876,710 shares of the semiconductor company’s stock worth $60,107,000 after buying an additional 449,775 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Qorvo by 240.7% in the first quarter. JPMorgan Chase & Co. now owns 466,766 shares of the semiconductor company’s stock worth $32,000,000 after buying an additional 329,770 shares during the period. Institutional investors own 93.63% of the company’s stock.

Shares of Qorvo Inc (QRVO) traded down 0.14% during trading on Friday, hitting $78.95. 1,573,209 shares of the company were exchanged. The stock’s market cap is $10.03 billion. The company’s 50-day moving average price is $71.77 and its 200 day moving average price is $64.06. Qorvo Inc has a 12 month low of $48.28 and a 12 month high of $79.34.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $0.74 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The company had revenue of $643 million during the quarter, compared to analyst estimates of $632.12 million. Qorvo had a negative net margin of 3.22% and a positive return on equity of 10.77%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.04 EPS. On average, equities analysts predict that Qorvo Inc will post $5.60 earnings per share for the current fiscal year.

A number of research firms have weighed in on QRVO. Cowen and Company reissued a “market perform” rating and issued a $85.00 target price (up from $74.00) on shares of Qorvo in a research note on Friday, May 26th. Needham & Company LLC lifted their price target on shares of Qorvo from $70.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, May 26th. Mizuho reaffirmed a “neutral” rating and set a $72.00 price target (up previously from $68.00) on shares of Qorvo in a research report on Sunday, May 28th. MKM Partners reaffirmed a “buy” rating and set a $90.00 price target (up previously from $78.00) on shares of Qorvo in a research report on Tuesday. Finally, Benchmark Co. assumed coverage on shares of Qorvo in a research report on Tuesday, April 25th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $68.29.

In other news, Director Daniel A. Dileo sold 1,000 shares of Qorvo stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $66.59, for a total value of $66,590.00. Following the completion of the transaction, the director now directly owns 23,020 shares of the company’s stock, valued at approximately $1,532,901.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roderick Nelson sold 2,000 shares of Qorvo stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $74.41, for a total transaction of $148,820.00. Following the completion of the transaction, the director now directly owns 5,907 shares of the company’s stock, valued at $439,539.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,847 shares of company stock valued at $5,186,751. 1.14% of the stock is owned by company insiders.

About Qorvo

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:QRVO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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