Qorvo, Inc. (NASDAQ:QRVO) Stock Holdings Trimmed by Entropy Technologies LP

Entropy Technologies LP lowered its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 33.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,443 shares of the semiconductor company's stock after selling 11,676 shares during the quarter. Entropy Technologies LP's holdings in Qorvo were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in QRVO. Versor Investments LP raised its position in Qorvo by 232.3% during the third quarter. Versor Investments LP now owns 7,400 shares of the semiconductor company's stock valued at $764,000 after acquiring an additional 5,173 shares in the last quarter. GDS Wealth Management purchased a new position in Qorvo during the third quarter valued at approximately $2,171,000. Atria Investments Inc raised its position in Qorvo by 12.8% during the third quarter. Atria Investments Inc now owns 2,584 shares of the semiconductor company's stock valued at $267,000 after acquiring an additional 293 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Qorvo by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company's stock valued at $401,000 after acquiring an additional 140 shares in the last quarter. Finally, SpiderRock Advisors LLC raised its position in Qorvo by 5.4% during the third quarter. SpiderRock Advisors LLC now owns 5,059 shares of the semiconductor company's stock valued at $523,000 after acquiring an additional 259 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

Analyst Upgrades and Downgrades

QRVO has been the subject of several recent research reports. Barclays reduced their price target on Qorvo from $120.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on Qorvo from $105.00 to $118.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Bank of America lowered their price target on Qorvo from $115.00 to $80.00 and set an "underperform" rating on the stock in a research note on Wednesday, October 30th. BNP Paribas lowered Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 price target on the stock. in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on Qorvo from $115.00 to $95.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $102.88.

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 689 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now owns 21,601 shares of the company's stock, valued at approximately $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by company insiders.

Qorvo Price Performance

QRVO stock traded down $1.34 during midday trading on Wednesday, hitting $65.93. 846,651 shares of the stock were exchanged, compared to its average volume of 1,421,832. The stock's 50-day moving average price is $96.45 and its 200-day moving average price is $105.22. Qorvo, Inc. has a fifty-two week low of $65.35 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. Qorvo's revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 earnings per share. As a group, research analysts forecast that Qorvo, Inc. will post 3.37 EPS for the current fiscal year.

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.