Sage Rhino Capital LLC Makes New $332,000 Investment in Qorvo, Inc. (NASDAQ:QRVO)

Sage Rhino Capital LLC purchased a new position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,586 shares of the semiconductor company's stock, valued at approximately $332,000.

A number of other institutional investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its stake in shares of Qorvo by 35.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,506 shares of the semiconductor company's stock valued at $105,000 after purchasing an additional 398 shares in the last quarter. M&T Bank Corp increased its stake in shares of Qorvo by 19.9% during the fourth quarter. M&T Bank Corp now owns 6,195 shares of the semiconductor company's stock valued at $433,000 after purchasing an additional 1,030 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Qorvo during the fourth quarter valued at approximately $812,000. Raymond James Financial Inc. purchased a new stake in shares of Qorvo during the fourth quarter valued at approximately $1,327,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Qorvo during the fourth quarter valued at approximately $639,000. 88.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on QRVO shares. Wall Street Zen cut shares of Qorvo from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. 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. Mizuho set a $84.00 price target on shares of Qorvo and gave the company a "neutral" rating in a report on Tuesday, July 1st. Needham & Company LLC cut their price target on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group began coverage on shares of Qorvo in a report on Thursday. They set a "neutral" rating and a $90.00 price target on the stock. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $91.53.

Insider Buying and Selling at Qorvo

In related news, Director John R. Harding sold 1,450 shares of Qorvo stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director owned 7,597 shares in the company, valued at approximately $532,473.73. The trade was a 16.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% of the company's stock.

Qorvo Price Performance

Shares of QRVO traded down $2.09 during trading hours on Friday, reaching $88.23. 1,484,451 shares of the stock traded hands, compared to its average volume of 2,264,774. The company has a current ratio of 2.77, a quick ratio of 1.95 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 company's 50-day moving average price is $80.02 and its two-hundred day moving average price is $74.61. The company has a market cap of $8.19 billion, a P/E ratio of 152.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.39.

Qorvo (NASDAQ:QRVO - Get Free Report) last released 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 1.50% and a return on equity of 12.48%. The company had revenue of $869.47 million for the quarter, compared to analysts' expectations of $850.13 million. During the same quarter in the previous year, the company earned $1.39 EPS. Qorvo's revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current year.

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.