Qorvo, Inc. (NASDAQ:QRVO) Stock Position Decreased by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 23.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,563 shares of the semiconductor company's stock after selling 4,240 shares during the quarter. SG Americas Securities LLC's holdings in Qorvo were worth $1,557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of QRVO. Graham Capital Management L.P. purchased a new stake in shares of Qorvo in the third quarter valued at $315,000. Capital Investment Advisors LLC purchased a new stake in shares of Qorvo in the fourth quarter valued at $219,000. Diversified Trust Co purchased a new stake in shares of Qorvo in the fourth quarter valued at $244,000. Nordea Investment Management AB raised its stake in shares of Qorvo by 30.4% in the fourth quarter. Nordea Investment Management AB now owns 369,657 shares of the semiconductor company's stock valued at $41,893,000 after acquiring an additional 86,134 shares during the period. Finally, CX Institutional purchased a new stake in shares of Qorvo in the fourth quarter valued at $224,000. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded down $5.62 during trading on Wednesday, hitting $123.59. 2,166,545 shares of the stock traded hands, compared to its average volume of 1,343,217. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. The company has a market cap of $11.74 billion, a price-to-earnings ratio of -175.52, a P/E/G ratio of 1.22 and a beta of 1.46. The company has a fifty day moving average price of $107.97 and a two-hundred day moving average price of $109.42. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. The company had revenue of $941.00 million during the quarter, compared to analyst estimates of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The firm's revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, equities analysts predict that Qorvo, Inc. will post 5.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on QRVO. Mizuho reduced their price target on shares of Qorvo from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 2nd. Barclays reduced their price target on shares of Qorvo from $110.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Qorvo from $105.00 to $100.00 and set an "underweight" rating on the stock in a research note on Thursday, May 2nd. StockNews.com raised shares of Qorvo from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Susquehanna raised their target price on shares of Qorvo from $95.00 to $145.00 and gave the company a "neutral" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $113.61.

Insider Buying and Selling

In other Qorvo news, Director John R. Harding sold 941 shares of Qorvo stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now owns 6,950 shares of the company's stock, valued at approximately $676,652. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Robert A. Bruggeworth sold 22,299 shares of the business's stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the transaction, the chief executive officer now owns 154,714 shares of the company's stock, valued at approximately $15,364,647.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John R. Harding sold 941 shares of the business's stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the transaction, the director now directly owns 6,950 shares in the company, valued at approximately $676,652. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,372 shares of company stock valued at $4,517,858. 0.46% of the stock is owned by corporate 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.