Worldquant Millennium Advisors LLC Decreases Stake in Qorvo, Inc. (NASDAQ:QRVO)

Worldquant Millennium Advisors LLC trimmed its position in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 97.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,278 shares of the semiconductor company's stock after selling 223,991 shares during the period. Worldquant Millennium Advisors LLC's holdings in Qorvo were worth $545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QRVO. Cetera Advisors LLC grew its holdings in shares of Qorvo by 40.9% during the 1st quarter. Cetera Advisors LLC now owns 2,542 shares of the semiconductor company's stock valued at $292,000 after purchasing an additional 738 shares during the last quarter. CWM LLC lifted its position in Qorvo by 6.8% during the 2nd quarter. CWM LLC now owns 3,060 shares of the semiconductor company's stock valued at $355,000 after acquiring an additional 196 shares during the period. SG Americas Securities LLC lifted its position in Qorvo by 114.0% during the 2nd quarter. SG Americas Securities LLC now owns 29,020 shares of the semiconductor company's stock valued at $3,367,000 after acquiring an additional 15,457 shares during the period. Czech National Bank lifted its position in Qorvo by 8.3% during the 2nd quarter. Czech National Bank now owns 18,398 shares of the semiconductor company's stock valued at $2,135,000 after acquiring an additional 1,412 shares during the period. Finally, Wedmont Private Capital lifted its position in Qorvo by 2.3% during the 2nd quarter. Wedmont Private Capital now owns 7,812 shares of the semiconductor company's stock valued at $959,000 after acquiring an additional 176 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company's stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on QRVO. BNP Paribas downgraded shares of Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 target price on the stock. in a report on Wednesday, October 30th. Craig Hallum cut their price objective on shares of Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley cut shares of Qorvo from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $130.00 to $120.00 in a report on Friday, October 11th. Benchmark cut shares of Qorvo from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, Loop Capital started coverage on shares of Qorvo in a report on Monday, November 11th. They issued a "hold" rating and a $73.00 price target on the stock. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $102.88.

Qorvo Stock Up 1.7 %

Qorvo stock traded up $1.18 during mid-day trading on Monday, hitting $69.51. The company's stock had a trading volume of 2,339,479 shares, compared to its average volume of 1,470,529. The business has a 50 day moving average price of $83.48 and a 200-day moving average price of $101.07. 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, Inc. has a 12 month low of $64.54 and a 12 month high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. The business's revenue for the quarter was down 5.2% on a year-over-year basis. Research analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share 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.