Two Sigma Advisers LP Has $17.68 Million Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Two Sigma Advisers LP lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 45.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 252,800 shares of the semiconductor company's stock after selling 208,000 shares during the quarter. Two Sigma Advisers LP owned about 0.27% of Qorvo worth $17,678,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in Qorvo by 102.0% during the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock worth $251,577,000 after acquiring an additional 1,816,811 shares during the period. FIL Ltd raised its stake in Qorvo by 5.3% in the 4th quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company's stock worth $232,464,000 after purchasing an additional 166,461 shares in the last quarter. Vulcan Value Partners LLC raised its stake in Qorvo by 53.7% in the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock worth $180,487,000 after purchasing an additional 902,353 shares in the last quarter. Amundi raised its stake in Qorvo by 84.4% in the 4th quarter. Amundi now owns 2,143,858 shares of the semiconductor company's stock worth $156,673,000 after purchasing an additional 981,519 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Qorvo by 22.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company's stock worth $99,280,000 after purchasing an additional 264,167 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on QRVO shares. Loop Capital dropped their price objective on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective for the company in a research note on Wednesday, April 30th. Barclays lifted their price objective on shares of Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. TD Cowen dropped their price objective on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $91.21.

Qorvo Price Performance

Shares of Qorvo stock traded down $1.50 during midday trading on Friday, hitting $74.60. 2,134,256 shares of the company traded hands, compared to its average volume of 2,200,165. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 266.43, a PEG ratio of 15.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The firm's fifty day moving average price is $67.66 and its 200-day moving average price is $71.48. Qorvo, Inc. has a 12 month low of $49.46 and a 12 month high of $130.99.

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 the consensus estimate of $1.00 by $0.42. The company had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The firm's revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS. As a group, sell-side analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current year.

Insider Activity at Qorvo

In related news, Director John R. Harding sold 1,450 shares of Qorvo stock in a transaction that occurred 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 sale, the director now directly owns 7,597 shares of the company's stock, valued at approximately $532,473.73. The trade was a 16.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

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.