Two Sigma Investments LP Has $12.04 Million Holdings in Qorvo, Inc. (NASDAQ:QRVO)

Two Sigma Investments LP decreased its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 43.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mediolanum International Funds Ltd acquired a new stake in shares of Qorvo during the 4th quarter worth approximately $1,177,000. Janney Montgomery Scott LLC grew its position in shares of Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after buying an additional 10,405 shares during the period. JPMorgan Chase & Co. grew its position in shares of Qorvo by 16.3% during the 4th quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company’s stock worth $45,429,000 after buying an additional 91,120 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Qorvo during the 4th quarter worth approximately $1,327,000. Finally, F&V Capital Management LLC grew its position in shares of Qorvo by 3.7% during the 4th quarter. F&V Capital Management LLC now owns 93,538 shares of the semiconductor company’s stock worth $6,541,000 after buying an additional 3,335 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on QRVO shares. Benchmark raised shares of Qorvo from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Wednesday, April 30th. Needham & Company LLC reduced their price objective on shares of Qorvo from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Barclays lifted their price target on shares of Qorvo from $60.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Finally, Mizuho lifted their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Three 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.21.

Insider Transactions at Qorvo

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

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $74.60 on Friday. 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 fifty day simple moving average is $67.66 and its two-hundred day simple moving average is $71.49. Qorvo, Inc. has a 1-year low of $49.46 and a 1-year high of $130.99. The stock has a market cap of $6.94 billion, a PE ratio of 266.43, a price-to-earnings-growth ratio of 15.57 and a beta of 1.38.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.42. The business had revenue of $869.47 million for the quarter, compared to analysts’ expectations of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The business’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the business earned $1.39 EPS. As a group, analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current fiscal 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.