Folger Hill Asset Management Lp adds Qorvo Inc (QRVO) to its portfolio

Qorvo Inc (QRVO) : Folger Hill Asset Management Lp added new position in Qorvo Inc during the most recent quarter end. The investment management firm now holds 282,617 shares of Qorvo Inc which is valued at $15,428,062 , the company said in a statement filed on Aug 15, 2016 with the SEC.Qorvo Inc makes up approximately 1.42% of Folger Hill Asset Management Lp’s portfolio.

Other Hedge Funds, Including , New York Life Trust Co added QRVO to its portfolio by purchasing 866 company shares during the most recent quarter which is valued at $47,275. Qorvo Inc makes up approx 0.22% of New York Life Trust Co’s portfolio.Allianz Asset Management Ag reduced its stake in QRVO by selling 71,755 shares or 41.65% in the most recent quarter. The Hedge Fund company now holds 100,510 shares of QRVO which is valued at $5,486,841. Qorvo Inc makes up approx 0.01% of Allianz Asset Management Ag’s portfolio.Hanson Doremus Investment Management reduced its stake in QRVO by selling 200 shares or 0.93% in the most recent quarter. The Hedge Fund company now holds 21,408 shares of QRVO which is valued at $1,353,628. Qorvo Inc makes up approx 0.59% of Hanson Doremus Investment Management’s portfolio. Essex Investment Management Co added QRVO to its portfolio by purchasing 4,231 company shares during the most recent quarter which is valued at $266,595. Qorvo Inc makes up approx 0.04% of Essex Investment Management Co’s portfolio. Eagle Asset Management Inc sold out all of its stake in QRVO during the most recent quarter. The investment firm sold 139,321 shares of QRVO which is valued $8,470,717.

Qorvo Inc opened for trading at $57.46 and hit $57.85 on the upside on Thursday, eventually ending the session at $57.75, with a gain of 0.56% or 0.32 points. The heightened volatility saw the trading volume jump to 15,82,230 shares. Company has a market cap of $7,386 M.

On the company’s financial health, Qorvo Inc reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.05. The company had revenue of $698.54 million for the quarter, compared to analysts expectations of $650.64 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS.

Many Wall Street Analysts have commented on Qorvo Inc. Company shares were Reiterated by Craig Hallum on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $58 .Shares were Reiterated by DA Davidson on Aug 3, 2016 to “Buy” and Lowered the Price Target to $ 67 from a previous price target of $70 .Company shares were Reiterated by Drexel Hamilton on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 72 from a previous price target of $63 .

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.

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