First Mercantile Trust Co buys $1,019,180 stake in Qorvo Inc (QRVO)

Qorvo Inc (QRVO) : First Mercantile Trust Co scooped up 5,235 additional shares in Qorvo Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 17,994 shares of Qorvo Inc which is valued at $1,019,180.Qorvo Inc makes up approximately 0.14% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in QRVO by selling 2,700 shares or 27.02% in the most recent quarter. The Hedge Fund company now holds 7,291 shares of QRVO which is valued at $397,360.North Star Asset Management Inc reduced its stake in QRVO by selling 180 shares or 1.68% in the most recent quarter. The Hedge Fund company now holds 10,518 shares of QRVO which is valued at $573,231. Qorvo Inc makes up approx 0.06% of North Star Asset Management Inc’s portfolio.Chevy Chase Trust Holdings reduced its stake in QRVO by selling 2,220 shares or 2.04% in the most recent quarter. The Hedge Fund company now holds 106,724 shares of QRVO which is valued at $5,816,458. Qorvo Inc makes up approx 0.03% of Chevy Chase Trust Holdings’s portfolio.Washington Trust Bank boosted its stake in QRVO in the latest quarter, The investment management firm added 258 additional shares and now holds a total of 1,733 shares of Qorvo Inc which is valued at $94,449. Qorvo Inc makes up approx 0.02% of Washington Trust Bank’s portfolio.

Qorvo Inc opened for trading at $55.57 and hit $56.87 on the upside on Friday, eventually ending the session at $56.64, with a gain of 2.35% or 1.3 points. The heightened volatility saw the trading volume jump to 16,45,972 shares. Company has a market cap of $7,244 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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