No.
Like everything else an LLM touches, it is prone to slop and hallucinations.
You still need someone who knows what they are doing to review (and preferably manually validate) the findings.
What all this recent hype carefully glosses over is the volume of false-positives. I guarantee you it is > 0 and most likely a fairly large number.
And like most things LLM, the bigger the codebase the more likely the false-positives due to self-imposed context window constraints.
Its all very well these blog posts saying "LLM found this serious bug in Firefox", well yeah but that's only because the security analyst filtered out all the junk (and knew what to ask the LLM in the prompt in the first place).