Two Sigma Investments LP Sells 129,832 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Two Sigma Investments LP lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 43.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 172,157 shares of the semiconductor company's stock after selling 129,832 shares during the quarter. Two Sigma Investments LP owned about 0.18% of Qorvo worth $12,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of QRVO. Janney Montgomery Scott LLC increased its position in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after buying an additional 10,405 shares during the period. CX Institutional purchased a new position in shares of Qorvo during the fourth quarter valued at about $224,000. Blue Trust Inc. increased its position in shares of Qorvo by 23.6% during the fourth quarter. Blue Trust Inc. now owns 1,739 shares of the semiconductor company's stock valued at $122,000 after buying an additional 332 shares during the period. KBC Group NV increased its position in shares of Qorvo by 144.8% during the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company's stock valued at $75,328,000 after buying an additional 637,087 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Qorvo by 33.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 715,045 shares of the semiconductor company's stock valued at $50,003,000 after buying an additional 177,315 shares during the period. Hedge funds and other institutional investors own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QRVO. Needham & Company LLC reduced their price target on shares of Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Barclays upped their price objective on shares of Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Citigroup cut their price objective on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a report on Wednesday, January 29th. Finally, Loop Capital cut their price objective on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Three 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.com, the stock has a consensus rating of "Hold" and an average price target of $91.21.

Insider Activity at Qorvo

In related news, Director John R. Harding sold 1,450 shares of the 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 transaction, the director now owns 7,597 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Qorvo Stock Up 0.7%

Shares of NASDAQ QRVO traded up $0.50 during midday trading on Thursday, hitting $76.41. The stock had a trading volume of 479,583 shares, compared to its average volume of 2,194,875. The business's 50 day moving average is $67.88 and its 200-day moving average is $71.58. The company has a market cap of $7.11 billion, a P/E ratio of 272.75, a PEG ratio of 15.57 and a beta of 1.38. Qorvo, Inc. has a 52 week low of $49.46 and a 52 week high of $130.99. 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 (NASDAQ:QRVO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 0.71% and a return on equity of 12.41%. The business's revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. As a group, analysts predict that Qorvo, Inc. will post 4.09 EPS for the current year.

Qorvo Company 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.