Two Sigma Advisers LP Sells 208,000 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Two Sigma Advisers LP lowered its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 45.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 252,800 shares of the semiconductor company's stock after selling 208,000 shares during the quarter. Two Sigma Advisers LP owned approximately 0.27% of Qorvo worth $17,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake in shares of Qorvo by 102.0% during the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock valued at $251,577,000 after buying an additional 1,816,811 shares during the last quarter. Norges Bank bought a new stake in Qorvo during the 4th quarter valued at $71,825,000. Amundi raised its holdings in Qorvo by 84.4% during the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock valued at $156,673,000 after buying an additional 981,519 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of Qorvo by 8,535.6% during the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company's stock valued at $65,153,000 after buying an additional 920,901 shares during the period. Finally, Vulcan Value Partners LLC increased its stake in shares of Qorvo by 53.7% during the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock valued at $180,487,000 after buying an additional 902,353 shares during the period. Institutional investors own 88.57% of the company's stock.

Insider Activity

In other news, Director John R. Harding sold 1,450 shares of the company'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 directly owns 7,597 shares of the company's stock, valued at $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company's stock.

Qorvo Stock Up 3.6%

Qorvo stock traded up $2.68 during mid-day trading on Tuesday, hitting $77.28. The company had a trading volume of 388,260 shares, compared to its average volume of 2,193,191. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The stock's 50 day moving average price is $67.71 and its two-hundred day moving average price is $71.51. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $130.99. The company has a market capitalization of $7.19 billion, a PE ratio of 275.98, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The company's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 earnings per share. As a group, sell-side analysts anticipate that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QRVO has been the topic of several research analyst reports. Loop Capital reduced their target price on Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC reduced their target price on Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen raised Qorvo from a "hold" rating to a "buy" rating in a research note on Saturday. Benchmark raised 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. Finally, Citigroup reduced their price target on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of "Hold" and an average 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.