The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Qorvo Inc (NASDAQ:QRVO).
Qorvo Inc (NASDAQ:QRVO)’s investors should be aware of an increase in hedge fund interest of late. However, the level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as HD Supply Holdings Inc (NASDAQ:HDS), KT Corporation (ADR) (NYSE:KT), and Raymond James Financial, Inc. (NYSE:RJF) to gather more data points.
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
Keeping this in mind, we’re going to take a gander at the key action surrounding Qorvo Inc (NASDAQ:QRVO).
Hedge fund activity in Qorvo Inc (NASDAQ:QRVO)
During the third quarter, the number of hedge funds tracked by Insider Monkey that held long positions in Qorvo advanced by 23% to 27. With hedgies’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings considerably (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Ken Fisher’s Fisher Asset Management holds the largest position in Qorvo Inc (NASDAQ:QRVO). Fisher Asset Management has a $63.6 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Gruss Asset Management, led by Howard Guberman, holding a $24.5 million call position; 0.7% of its 13F portfolio is allocated to the stock. Remaining hedge funds and institutional investors that hold long positions encompass Richard Barrera’s Roystone Capital Partners, Curtis Macnguyen’s Ivory Capital (Investment Mgmt), and Ken Griffin’s Citadel Investment Group.