Trexquant Investment LP Sells 54,480 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Trexquant Investment LP cut its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 65.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,320 shares of the semiconductor company's stock after selling 54,480 shares during the period. Trexquant Investment LP's holdings in Qorvo were worth $1,980,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo during the 4th quarter valued at about $1,177,000. Janney Montgomery Scott LLC boosted its holdings in Qorvo by 245.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock worth $1,024,000 after purchasing an additional 10,405 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Qorvo by 16.3% in the fourth quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock worth $45,429,000 after purchasing an additional 91,120 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Qorvo during the 4th quarter valued at $1,327,000. Finally, Virtu Financial LLC purchased a new stake in Qorvo during the 3rd quarter valued at $1,211,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Price Performance

Shares of QRVO traded up $2.37 during mid-day trading on Monday, hitting $58.64. 195,120 shares of the stock were exchanged, compared to its average volume of 2,105,847. 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 company has a market cap of $5.48 billion, a PE ratio of 209.41, a price-to-earnings-growth ratio of 15.57 and a beta of 1.43. Qorvo, Inc. has a 52-week low of $49.46 and a 52-week high of $130.99. The firm has a 50-day moving average of $70.99 and a two-hundred day moving average of $76.91.

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Analyst Ratings Changes

Several analysts recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. Barclays reduced their price target on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Stifel Nicolaus dropped their price objective on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Finally, Benchmark reissued a "hold" rating on shares of Qorvo in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $95.84.

Qorvo 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.