SG Americas Securities LLC Has $54.10 Million Stake in Qorvo, Inc. $QRVO

SG Americas Securities LLC raised its position in shares of Qorvo, Inc. (NASDAQ:QRVO) by 198.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 698,958 shares of the semiconductor company’s stock after acquiring an additional 464,494 shares during the quarter. SG Americas Securities LLC’s holdings in Qorvo were worth $54,099,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its position in shares of Qorvo by 440.1% during the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after purchasing an additional 6,628 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Qorvo by 158.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 1,301 shares in the last quarter. First Trust Advisors LP lifted its stake in Qorvo by 56.5% in the second quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company’s stock valued at $12,100,000 after buying an additional 51,475 shares during the period. Marshall Wace LLP acquired a new position in Qorvo in the second quarter valued at approximately $428,000. Finally, Cerity Partners LLC bought a new position in shares of Qorvo during the 2nd quarter worth approximately $327,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Qorvo

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the transaction, the director owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the senior vice president directly owned 71,038 shares in the company, valued at $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,966,127 shares of company stock worth $198,911,103. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wolfe Research lowered shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Craig Hallum restated a “buy” rating and issued a $120.00 price target on shares of Qorvo in a report on Wednesday, May 6th. Finally, Citigroup upped their price objective on shares of Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus price target of $96.62.

Qorvo Trading Up 3.6%

Shares of Qorvo stock opened at $101.98 on Tuesday. The stock has a market capitalization of $8.98 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The stock has a 50 day moving average price of $93.84 and a two-hundred day moving average price of $86.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The company had revenue of $808.28 million for the quarter, compared to analyst estimates of $801.31 million. During the same period in the prior year, the firm earned $1.42 earnings per share. Qorvo’s revenue for the quarter was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts anticipate that Qorvo, Inc. will post 5.84 earnings per share for the current fiscal year.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.