SG Americas Securities LLC Has $708,000 Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

SG Americas Securities LLC lifted its stake in Qorvo, Inc. (NASDAQ:QRVO) by 240.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,780 shares of the semiconductor company’s stock after acquiring an additional 6,908 shares during the quarter. SG Americas Securities LLC’s holdings in Qorvo were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of QRVO. Ameriprise Financial Inc. increased its stake in shares of Qorvo by 102.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock worth $251,577,000 after acquiring an additional 1,816,811 shares during the last quarter. Norges Bank acquired a new position in Qorvo during the fourth quarter worth $71,825,000. Amundi increased its position in Qorvo by 84.4% during the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock worth $156,673,000 after buying an additional 981,519 shares during the last quarter. Wealthfront Advisers LLC increased its position in Qorvo by 8,535.6% during the fourth quarter. Wealthfront Advisers LLC now owns 931,690 shares of the semiconductor company’s stock worth $65,153,000 after buying an additional 920,901 shares during the last quarter. Finally, Vulcan Value Partners LLC increased its position in Qorvo by 53.7% during the fourth quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock worth $180,487,000 after buying an additional 902,353 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John R. Harding sold 1,450 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total value of $101,630.50. Following the completion of the transaction, the director now owns 7,597 shares of the company’s stock, valued at $532,473.73. This represents a 16.03% decrease in their ownership of the stock. 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 Stock Down 0.5%

NASDAQ QRVO opened at $79.91 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.95 and a current ratio of 2.77. The firm has a 50-day simple moving average of $72.99 and a 200 day simple moving average of $72.95. Qorvo, Inc. has a twelve month low of $49.46 and a twelve month high of $130.99. The stock has a market cap of $7.43 billion, a PE ratio of 137.78, a PEG ratio of 2.14 and a beta of 1.37.

Qorvo (NASDAQ:QRVO) last released its earnings results 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. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The business had revenue of $869.47 million during the quarter, compared to analysts’ expectations of $850.13 million. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue was down 7.6% on a year-over-year basis. On average, research analysts forecast that Qorvo, Inc. will post 4.09 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on QRVO. Citigroup reissued a “sell” rating on shares of Qorvo in a research report on Tuesday, June 10th. TD Cowen lowered their target price on shares of Qorvo from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Needham & Company LLC lowered their target price on shares of Qorvo from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen cut shares of Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Finally, Benchmark upgraded shares of Qorvo from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.21.

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.