Hartline Investment Corp Invests $210,000 in Qorvo, Inc. (NASDAQ:QRVO)

Hartline Investment Corp purchased a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,825 shares of the semiconductor company’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp raised its stake in Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares in the last quarter. Riverview Trust Co bought a new position in Qorvo in the 1st quarter worth approximately $40,000. GAMMA Investing LLC bought a new position in Qorvo in the 4th quarter worth approximately $104,000. Quadrant Capital Group LLC grew its holdings in Qorvo by 18.7% in the 4th quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock worth $107,000 after buying an additional 150 shares in the last quarter. Finally, Mather Group LLC. bought a new position in Qorvo in the 1st quarter worth approximately $193,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 1.4 %

Shares of QRVO traded up $1.62 during mid-day trading on Friday, reaching $118.75. The company’s stock had a trading volume of 906,924 shares, compared to its average volume of 1,347,761. The business has a fifty day moving average of $105.25 and a 200 day moving average of $108.87. The company has a market cap of $11.36 billion, a price-to-earnings ratio of -160.45, a price-to-earnings-growth ratio of 1.13 and a beta of 1.46. Qorvo, Inc. has a 1 year low of $80.62 and a 1 year high of $121.65. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The business had revenue of $941.00 million during the quarter, compared to analyst estimates of $927.24 million. During the same period last year, the company earned $0.11 earnings per share. Qorvo’s quarterly revenue was up 48.7% compared to the same quarter last year. As a group, analysts forecast that Qorvo, Inc. will post 5.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QRVO has been the subject of a number of recent analyst reports. Barclays decreased their price objective on Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price target on Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Mizuho decreased their price target on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $105.00 price target on shares of Qorvo in a research note on Wednesday, June 12th. Finally, Benchmark decreased their price target on Qorvo from $136.00 to $128.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $110.83.

Insider Buying and Selling

In other Qorvo news, Director John R. Harding sold 941 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the transaction, the director now directly owns 6,950 shares in the company, valued at $676,652. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director John R. Harding sold 941 shares of Qorvo stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now directly owns 6,950 shares in the company, valued at $676,652. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul J. Fego sold 2,132 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $211,728.92. Following the transaction, the senior vice president now owns 25,201 shares in the company, valued at $2,502,711.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,372 shares of company stock worth $4,517,858. Corporate insiders own 0.43% of the company’s stock.

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.