Versant Capital Management Inc Has $340,000 Position in Qorvo, Inc. (NASDAQ:QRVO)

Versant Capital Management Inc grew its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 675.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 institutional investors and hedge funds have also recently bought and sold shares of QRVO. Rakuten Securities Inc. purchased a new position in shares of Qorvo during the 4th quarter valued at approximately $28,000. Huntington National Bank increased its position in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after buying an additional 145 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Qorvo in the fourth quarter worth $37,000. Venturi Wealth Management LLC increased its position in Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after buying an additional 250 shares during the period. Finally, CENTRAL TRUST Co raised its stake in shares of Qorvo by 2,621.4% during the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 734 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Stock Performance

NASDAQ QRVO traded down $0.03 during trading on Wednesday, hitting $79.23. The company's stock had a trading volume of 2,400,317 shares, compared to its average volume of 2,225,901. The firm has a market cap of $7.37 billion, a P/E ratio of 282.96, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $130.99. The firm has a 50 day moving average price of $68.23 and a 200 day moving average price of $71.94.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.42. The business had revenue of $869.47 million for the quarter, compared to analysts' expectations of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. Qorvo's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 earnings per share. Equities research analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QRVO. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus set a $75.00 price target on Qorvo in a research note on Monday, April 28th. Needham & Company LLC decreased their price objective on Qorvo from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. TD Cowen reduced their price target on Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, Barclays lifted their price target on Qorvo from $60.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Qorvo currently has a consensus rating of "Hold" and an average target price of $91.21.

Insider Activity at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total value of $101,630.50. Following the transaction, the director now owns 7,597 shares of the company's stock, valued at approximately $532,473.73. The trade was a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

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.