Morgens Waterfall Vintiadis Co Inc Exits Position in Qorvo Inc (QRVO)

Qorvo Inc (QRVO) : Morgens Waterfall Vintiadis Co Inc has sold out all of its stake in Qorvo Inc during the most recent quarter, according to the disclosure filed by the company on Oct 12, 2016 with the SEC. The investment management company has sold out 10,000 shares of Qorvo Inc which is valued at $555,200.

Other Hedge Funds, Including , Banced Corp boosted its stake in QRVO in the latest quarter, The investment management firm added 506 additional shares and now holds a total of 12,972 shares of Qorvo Inc which is valued at $720,205. Qorvo Inc makes up approx 1.43% of Banced Corp’s portfolio. Cutler Group Lp added QRVO to its portfolio by purchasing 7,254 company shares during the most recent quarter which is valued at $406,369. Qorvo Inc makes up approx 0.03% of Cutler Group Lp’s portfolio.Fisher Asset Management boosted its stake in QRVO in the latest quarter, The investment management firm added 34,107 additional shares and now holds a total of 1,140,584 shares of Qorvo Inc which is valued at $63,895,516. Qorvo Inc makes up approx 0.12% of Fisher Asset Management’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in QRVO by selling 355 shares or 1.08% in the most recent quarter. The Hedge Fund company now holds 32,656 shares of QRVO which is valued at $1,849,636. Qorvo Inc makes up approx 0.04% of Exxonmobil Investment Management Inc Tx’s portfolio.

Qorvo Inc closed down -0.5 points or -0.89% at $55.52 with 11,78,127 shares getting traded on Tuesday. Post opening the session at $55.92, the shares hit an intraday low of $54.95 and an intraday high of $56.0973 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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