Qorvo Inc (QRVO) : Convector Capital Management Lp scooped up 3,000 additional shares in Qorvo Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 92,400 shares of Qorvo Inc which is valued at $4.2 Million.Qorvo Inc makes up approximately 4.59% of Convector Capital Management Lp’s portfolio.
Other Hedge Funds, Including , First Trust Advisors Lp added QRVO to its portfolio by purchasing 46,416 company shares during the most recent quarter which is valued at $2.1 Million. Qorvo Inc makes up approx 0.01% of First Trust Advisors Lp’s portfolio.Ibm Retirement Fund reduced its stake in QRVO by selling 22,263 shares or 60.96% in the most recent quarter. The Hedge Fund company now holds 14,255 shares of QRVO which is valued at $641,332. Qorvo Inc makes up approx 0.02% of Ibm Retirement Fund’s portfolio.Ngam Advisors reduced its stake in QRVO by selling 4,907 shares or 22.12% in the most recent quarter. The Hedge Fund company now holds 17,273 shares of QRVO which is valued at $796,458. Qorvo Inc makes up approx 0.01% of Ngam Advisors’s portfolio.
Qorvo Inc opened for trading at $45.03 and hit $46.41 on the upside on Monday, eventually ending the session at $45.56, with a gain of 1.27% or 0.57 points. The heightened volatility saw the trading volume jump to 12,55,243 shares. Company has a market cap of $6,246 M.
On the company’s financial health, Qorvo Inc reported $1.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.92. The company had revenue of $608.10 million for the quarter, compared to analysts expectations of $599.32 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.11 EPS.
Many Wall Street Analysts have commented on Qorvo Inc. Company shares were Reiterated by Cowen on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Company shares were Reiterated by Needham on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 53 from a previous price target of $50 .Company shares were Reiterated by Craig Hallum on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 58 from a previous price target of $56 .
Qorvo Inc. provides core technologies and radio frequency (RF) solutions for mobile infrastructure and defense and aerospace applications. The Company offers amplification filtering and switching products for RF microwave and millimeter-wave applications. It serves the mobile device networks infrastructure and defense and aerospace markets. It designs develops manufactures and markets its products to the United States and international original equipment manufacturers and original design manufacturers. Its operating segments include Mobile Products (MP) and Infrastructure and Defense Products (IDP). The MP segment supplies RF solutions that perform various functions in the complex cellular radio front end section of smartphones and other cellular devices. The IDP segment supplies an array of RF solutions to wireless network infrastructure defense and aerospace markets and short-range connectivity applications for commercial consumer industrial and automotive markets.