Clarius Group LLC Makes New $240,000 Investment in Qorvo, Inc. (NASDAQ:QRVO)

Clarius Group LLC purchased a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,310 shares of the semiconductor company's stock, valued at approximately $240,000.

Other large investors also recently bought and sold shares of the company. Hanson & Doremus Investment Management increased its position in Qorvo by 24.0% during the first quarter. Hanson & Doremus Investment Management now owns 6,636 shares of the semiconductor company's stock valued at $481,000 after acquiring an additional 1,286 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Qorvo by 10.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company's stock valued at $547,000 after acquiring an additional 717 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in Qorvo by 2.5% during the first quarter. NorthCrest Asset Manangement LLC now owns 61,595 shares of the semiconductor company's stock valued at $4,460,000 after acquiring an additional 1,497 shares during the last quarter. Simon Quick Advisors LLC bought a new position in Qorvo during the first quarter valued at $261,000. Finally, CX Institutional increased its position in Qorvo by 18.0% during the first quarter. CX Institutional now owns 3,787 shares of the semiconductor company's stock valued at $274,000 after acquiring an additional 579 shares during the last quarter. Institutional investors own 88.57% of the company's stock.

Insider Activity at Qorvo

In related news, Director John R. Harding sold 1,450 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total value of $101,630.50. Following the completion of the transaction, the director now directly owns 7,597 shares of the company's stock, valued at $532,473.73. This trade represents a 16.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Qorvo Stock Up 1.3%

Shares of QRVO stock traded up $1.01 during mid-day trading on Monday, hitting $80.92. 1,129,960 shares of the stock traded hands, compared to its average volume of 2,226,653. The stock has a market cap of $7.53 billion, a P/E ratio of 139.52, a P/E/G ratio of 2.13 and a beta of 1.37. The stock's fifty day moving average is $73.43 and its two-hundred day moving average is $73.09. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.00 by $0.42. The business had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The company's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 earnings per share. Equities analysts predict that Qorvo, Inc. will post 4.09 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on QRVO shares. Stifel Nicolaus set a $75.00 price objective on shares of Qorvo in a research report on Monday, April 28th. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price target on the stock in a report on Wednesday, April 30th. Citigroup restated a "sell" rating on shares of Qorvo in a report on Tuesday, June 10th. Barclays upped their price target on shares of Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Finally, TD Cowen cut their price target on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Qorvo has a consensus rating of "Hold" and a consensus price target of $91.21.

About Qorvo

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.