Qorvo, Inc. (NASDAQ:QRVO) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in Qorvo, Inc. (NASDAQ:QRVO - Free Report) by 240.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 9,780 shares of the semiconductor company's stock after purchasing an additional 6,908 shares during the period. SG Americas Securities LLC's holdings in Qorvo were worth $708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City Holding Co. purchased a new stake in Qorvo during the 1st quarter worth approximately $25,000. Rakuten Securities Inc. purchased a new stake in Qorvo during the fourth quarter worth approximately $28,000. Huntington National Bank boosted its holdings in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Curat Global LLC purchased a new position in Qorvo in the first quarter valued at approximately $34,000. Finally, SBI Securities Co. Ltd. purchased a new position in Qorvo in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded up $0.67 during midday trading on Tuesday, hitting $81.59. The stock had a trading volume of 1,814,329 shares, compared to its average volume of 2,225,011. The company has a market capitalization of $7.59 billion, a PE ratio of 140.67, a P/E/G ratio of 2.13 and a beta of 1.37. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $130.99. The stock has a 50 day moving average price of $73.43 and a two-hundred day moving average price of $73.09. The company has a current ratio of 2.77, a quick ratio of 1.95 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.00 by $0.42. The business had revenue of $869.47 million during the quarter, compared to analysts' expectations of $850.13 million. Qorvo had a return on equity of 12.48% and a net margin of 1.50%. The company's quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. As a group, equities analysts predict that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stifel Nicolaus set a $75.00 target price on shares of Qorvo in a report on Monday, April 28th. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective for the company in a research note on Wednesday, April 30th. Barclays raised their price objective on Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Citigroup reiterated a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Finally, Wall Street Zen cut Qorvo from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.21.

Insider Activity at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total value of $101,630.50. Following the sale, the director now owns 7,597 shares of the company's stock, valued at approximately $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

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.