Trexquant Investment LP Has $5.54 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Trexquant Investment LP increased its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 1,723.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,206 shares of the semiconductor company's stock after acquiring an additional 46,508 shares during the period. Trexquant Investment LP owned approximately 0.05% of Qorvo worth $5,541,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Huntington National Bank lifted its position in shares of Qorvo by 8,090.0% during the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company's stock valued at $78,000 after acquiring an additional 809 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Qorvo in the fourth quarter worth $104,000. Quadrant Capital Group LLC increased its stake in shares of Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company's stock worth $107,000 after purchasing an additional 150 shares during the period. Allworth Financial LP grew its stake in shares of Qorvo by 16.7% in the third quarter. Allworth Financial LP now owns 1,416 shares of the semiconductor company's stock worth $135,000 after acquiring an additional 203 shares during the last quarter. Finally, Wahed Invest LLC lifted its stake in shares of Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company's stock valued at $147,000 after buying an additional 108 shares during the period. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Performance

Shares of QRVO traded up $1.56 during trading hours on Wednesday, hitting $99.55. The stock had a trading volume of 1,177,932 shares, compared to its average volume of 1,322,712. The stock has a fifty day moving average price of $108.42 and a 200 day moving average price of $106.60. Qorvo, Inc. has a 12 month low of $80.62 and a 12 month high of $121.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. The firm has a market capitalization of $9.61 billion, a PE ratio of -136.37, a PEG ratio of 1.20 and a beta of 1.53.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $927.24 million. During the same period last year, the firm earned $0.11 earnings per share. The business's quarterly revenue was up 48.7% on a year-over-year basis. Analysts anticipate that Qorvo, Inc. will post 5.16 EPS for the current year.

Insider Buying and Selling

In related news, CEO Robert A. Bruggeworth sold 22,299 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the sale, the chief executive officer now owns 154,714 shares of the company's stock, valued at $15,364,647.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Qorvo news, CEO Robert A. Bruggeworth sold 22,299 shares of the firm's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total value of $2,214,513.69. Following the transaction, the chief executive officer now directly owns 154,714 shares of the company's stock, valued at $15,364,647.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company's stock, valued at $9,306,240. The disclosure for this sale can be found here. Insiders have sold a total of 28,372 shares of company stock valued at $2,877,858 over the last quarter. 0.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QRVO shares. Susquehanna lowered their price objective on Qorvo from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group cut their target price on shares of Qorvo from $117.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, May 3rd. Mizuho decreased their price objective on shares of Qorvo from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on Qorvo from $105.00 to $100.00 and set an "underweight" rating for the company in a report on Thursday, May 2nd. Finally, Raymond James increased their price target on Qorvo from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Qorvo has a consensus rating of "Hold" and an average price target of $110.83.

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.