Robertson Opportunity Capital Lowers stake in Qorvo Inc (QRVO)

Qorvo Inc (QRVO) : Robertson Opportunity Capital reduced its stake in Qorvo Inc by 11.54% during the most recent quarter end. The investment management company now holds a total of 172,500 shares of Qorvo Inc which is valued at $9,097,650 after selling 22,500 shares in Qorvo Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Qorvo Inc makes up approximately 6.50% of Robertson Opportunity Capital’s portfolio.

Other Hedge Funds, Including , C M Bidwell Associates Ltd reduced its stake in QRVO by selling 17,040 shares or 20.41% in the most recent quarter. The Hedge Fund company now holds 66,465 shares of QRVO which is valued at $3,505,364. Qorvo Inc makes up approx 0.83% of C M Bidwell Associates Ltd’s portfolio.Airain Ltd boosted its stake in QRVO in the latest quarter, The investment management firm added 10,948 additional shares and now holds a total of 23,732 shares of Qorvo Inc which is valued at $1,197,754. Qorvo Inc makes up approx 0.07% of Airain Ltd’s portfolio. Robeco Institutional Asset Management B.v. added QRVO to its portfolio by purchasing 6,251 company shares during the most recent quarter which is valued at $315,488. Lsv Asset Management added QRVO to its portfolio by purchasing 24,700 company shares during the most recent quarter which is valued at $1,246,609. Todd Asset Management added QRVO to its portfolio by purchasing 234,708 company shares during the most recent quarter which is valued at $13,157,730. Qorvo Inc makes up approx 0.41% of Todd Asset Management’s portfolio.

Qorvo Inc closed down -0.27 points or -0.49% at $55.28 with 11,23,037 shares getting traded on Monday. Post opening the session at $55.41, the shares hit an intraday low of $54.33 and an intraday high of $55.9259 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Qorvo Inc reported $1.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $1.41. The company had revenue of $864.70 million for the quarter, compared to analysts expectations of $834.85 million. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.

Many Wall Street Analysts have commented on Qorvo Inc. Shares were Reiterated by Cowen on Nov 4, 2016 to “Buy” and Lowered the Price Target to $ 54 from a previous price target of $58 .Qorvo Inc was Downgraded by BofA/Merrill to ” Underperform” on Nov 4, 2016. JP Morgan Initiated Qorvo Inc on Oct 24, 2016 to “Overweight”, Price Target of the shares are set at $72.

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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