SG Americas Securities LLC Grows Position in Qorvo, Inc. (NASDAQ:QRVO)

SG Americas Securities LLC boosted its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 298.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,803 shares of the semiconductor company’s stock after buying an additional 13,340 shares during the quarter. SG Americas Securities LLC’s holdings in Qorvo were worth $2,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in QRVO. CX Institutional purchased a new position in shares of Qorvo in the fourth quarter valued at about $224,000. Nordea Investment Management AB lifted its holdings in Qorvo by 30.4% in the 4th quarter. Nordea Investment Management AB now owns 369,657 shares of the semiconductor company’s stock worth $41,893,000 after buying an additional 86,134 shares during the period. Wedmont Private Capital grew its position in shares of Qorvo by 247.1% in the 4th quarter. Wedmont Private Capital now owns 7,594 shares of the semiconductor company’s stock worth $800,000 after buying an additional 5,406 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Qorvo during the fourth quarter valued at approximately $244,000. Finally, Capital Investment Advisors LLC bought a new position in shares of Qorvo during the fourth quarter valued at approximately $219,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Trading Up 1.7 %

Shares of Qorvo stock opened at $114.60 on Thursday. Qorvo, Inc. has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. The company has a market capitalization of $11.06 billion, a P/E ratio of -53.30, a P/E/G ratio of 1.18 and a beta of 1.56. The company has a fifty day moving average of $111.51 and a 200 day moving average of $102.46.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. On average, sell-side analysts anticipate that Qorvo, Inc. will post 4.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Craig Hallum boosted their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Rosenblatt Securities raised their target price on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $134.00 in a research note on Friday, December 8th. Finally, Raymond James lifted their target price on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and a consensus price target of $111.17.

Insiders Place Their Bets

In other news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the transaction, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock worth $745,434 in the last three months. 0.43% of the stock is owned by company insiders.

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.