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

SG Americas Securities LLC lowered its position in Qorvo, Inc. (NASDAQ:QRVO) by 95.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in shares of Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 201 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Qorvo in the 3rd quarter valued at approximately $41,000. Farther Finance Advisors LLC raised its position in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Qorvo by 33.8% during the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock worth $76,000 after buying an additional 186 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

Qorvo Trading Down 2.4 %

NASDAQ:QRVO opened at $77.03 on Friday. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 275.11, a PEG ratio of 16.76 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The business has a fifty day moving average of $75.01 and a 200-day moving average of $90.27.

Analyst Upgrades and Downgrades

A number of research firms have commented on QRVO. Susquehanna reduced 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. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $85.00 to $110.00 in a report on Monday, January 27th. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Finally, StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average target price of $95.84.

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.