SG Americas Securities LLC Trims Stock Holdings in Qorvo, Inc. (NASDAQ:QRVO)

SG Americas Securities LLC lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 95.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,872 shares of the semiconductor company's stock after selling 62,007 shares during the quarter. SG Americas Securities LLC's holdings in Qorvo were worth $201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its position in shares of Qorvo by 377.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company's stock worth $57,125,000 after purchasing an additional 645,829 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Qorvo during the 4th quarter worth approximately $202,000. 180 Wealth Advisors LLC boosted its holdings in Qorvo by 78.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,293 shares of the semiconductor company's stock valued at $370,000 after purchasing an additional 2,320 shares during the last quarter. Diversified Trust Co acquired a new stake in Qorvo during the fourth quarter worth about $806,000. Finally, Everence Capital Management Inc. purchased a new position in Qorvo during the fourth quarter valued at approximately $310,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the company's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

QRVO has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Loop Capital increased their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Barclays cut their price target on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $100.00 price objective on shares of Qorvo in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $95.84.

Qorvo Trading Down 0.8 %

Shares of NASDAQ:QRVO traded down $0.60 during mid-day trading on Tuesday, reaching $76.66. 1,187,392 shares of the company were exchanged, compared to its average volume of 3,384,889. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 273.79, a P/E/G ratio of 15.93 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The firm's 50-day simple moving average is $75.43 and its 200 day simple moving average is $88.86.

Qorvo Company 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.