Lakewood Capital Management Lp Exits Position in Qorvo Inc (QRVO)

Qorvo Inc (QRVO) : Lakewood Capital Management Lp has sold out all of its stake in Qorvo Inc during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 474,462 shares of Qorvo Inc which is valued at $25,900,881.

Other Hedge Funds, Including , Cardinal Capital Management Ct sold out all of its stake in QRVO during the most recent quarter. The investment firm sold 296,711 shares of QRVO which is valued $16,197,453.Teachers Advisors Inc boosted its stake in QRVO in the latest quarter, The investment management firm added 20,145 additional shares and now holds a total of 152,191 shares of Qorvo Inc which is valued at $8,308,107. Qorvo Inc makes up approx 0.01% of Teachers Advisors Inc’s portfolio.Paradigm Capital Management Incny reduced its stake in QRVO by selling 125 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 75,730 shares of QRVO which is valued at $4,112,139. Qorvo Inc makes up approx 0.46% of Paradigm Capital Management Incny’s portfolio.First Trust Advisors Lp boosted its stake in QRVO in the latest quarter, The investment management firm added 36,630 additional shares and now holds a total of 83,046 shares of Qorvo Inc which is valued at $4,571,682. Qorvo Inc makes up approx 0.01% of First Trust Advisors Lp’s portfolio.

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.

Leave a Reply

Qorvo Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Qorvo Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.