Versant Capital Management Inc Raises Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Versant Capital Management Inc increased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 675.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,690 shares of the semiconductor company's stock after acquiring an additional 4,085 shares during the quarter. Versant Capital Management Inc's holdings in Qorvo were worth $340,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of QRVO. Mediolanum International Funds Ltd bought a new stake in Qorvo during the fourth quarter valued at approximately $1,177,000. Janney Montgomery Scott LLC raised its stake in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock worth $1,024,000 after acquiring an additional 10,405 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Qorvo by 16.3% during the fourth quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock worth $45,429,000 after acquiring an additional 91,120 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Qorvo during the fourth quarter worth approximately $1,327,000. Finally, F&V Capital Management LLC raised its stake in shares of Qorvo by 3.7% during the fourth quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company's stock worth $6,541,000 after acquiring an additional 3,335 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Qorvo Price Performance

Shares of NASDAQ QRVO traded up $0.44 during midday trading on Wednesday, reaching $79.70. 1,109,557 shares of the stock traded hands, compared to its average volume of 2,216,425. The company's 50 day moving average is $68.08 and its 200 day moving average is $71.89. Qorvo, Inc. has a one year low of $49.46 and a one year high of $130.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The stock has a market capitalization of $7.41 billion, a PE ratio of 284.64, a P/E/G ratio of 15.57 and a beta of 1.38.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The firm had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. During the same period last year, the firm posted $1.39 earnings per share. Qorvo's revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director now owns 7,597 shares in the company, valued at approximately $532,473.73. This trade represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

QRVO has been the topic of several research reports. Needham & Company LLC decreased their price target on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. TD Cowen decreased their price target on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Benchmark raised shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price target on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price target on shares of Qorvo in a research note on Monday, April 28th. Finally, Loop Capital decreased their target price on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Qorvo presently has an average rating of "Hold" and a consensus price target of $91.21.

Qorvo Profile

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.