SG Americas Securities LLC decreased its stake in Qorvo Inc (NASDAQ:QRVO) by 66.3% during the 3rd quarter, Holdings Channel reports. The fund owned 38,444 shares of the semiconductor company’s stock after selling 75,581 shares during the period. SG Americas Securities LLC’s holdings in Qorvo were worth $2,956,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in QRVO. NEXT Financial Group Inc bought a new stake in Qorvo during the 3rd quarter worth about $110,000. Piedmont Investment Advisors LLC bought a new stake in Qorvo during the 2nd quarter worth about $119,000. Huntington National Bank raised its holdings in Qorvo by 2,381.0% during the 3rd quarter. Huntington National Bank now owns 2,084 shares of the semiconductor company’s stock worth $160,000 after purchasing an additional 2,000 shares during the last quarter. Cerebellum GP LLC raised its holdings in Qorvo by 123.5% during the 3rd quarter. Cerebellum GP LLC now owns 2,461 shares of the semiconductor company’s stock worth $189,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Qorvo during the 2nd quarter worth about $200,000. Institutional investors and hedge funds own 94.77% of the company’s stock.
In other Qorvo news, CEO Robert A. Bruggeworth sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $63.92, for a total value of $319,600.00. Following the sale, the chief executive officer now owns 178,872 shares in the company, valued at approximately $11,433,498.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gina Harrison sold 1,016 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $74.00, for a total value of $75,184.00. Following the completion of the sale, the vice president now owns 18,381 shares in the company, valued at approximately $1,360,194. The disclosure for this sale can be found here. Insiders sold a total of 34,296 shares of company stock valued at $2,456,170 over the last quarter. 0.85% of the stock is owned by insiders.
QRVO has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on Qorvo from $67.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, August 2nd. They noted that the move was a valuation call. Craig Hallum boosted their price objective on Qorvo from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. Morgan Stanley boosted their price objective on Qorvo from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, August 2nd. Summit Insights raised Qorvo from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Needham & Company LLC boosted their price objective on Qorvo from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $81.00.
Shares of QRVO opened at $64.33 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.50 and a quick ratio of 2.48. Qorvo Inc has a 52-week low of $61.00 and a 52-week high of $86.84. The company has a market capitalization of $8.04 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, October 31st. The semiconductor company reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.13. Qorvo had a positive return on equity of 13.65% and a negative net margin of 1.41%. The business had revenue of $884.40 million during the quarter, compared to analyst estimates of $855.57 million. During the same period in the previous year, the firm earned $1.52 EPS. Qorvo’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Qorvo Inc will post 5.32 EPS for the current year.
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Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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