What Smart Money Thinks about Qorvo Inc (QRVO)?

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As aggregate interest increased, specific money managers were breaking ground themselves. Curtis Macnguyen’s Ivory Capital (Investment Mgmt) initiated a $12.5 million position during the quarter. Two other funds with new positions in the stock are Solomon Kumin’s Folger Hill Asset Management and Israel Englander’s Millennium Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Qorvo Inc (NASDAQ:QRVO) but similarly valued. We will take a look at HD Supply Holdings Inc (NASDAQ:HDS), KT Corporation (ADR) (NYSE:KT), Raymond James Financial, Inc. (NYSE:RJF), and Kohl’s Corporation (NYSE:KSS). All of these stocks’ market caps match QRVO’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HDS 40 1866259 -7
KT 10 93403 2
RJF 17 329488 1
KSS 29 409994 1

As you can see these stocks had an average of 24 funds with bullish positions and the average amount invested in these stocks was $675 million, versus $198 million in QRVO’s case. HD Supply Holdings Inc (NASDAQ:HDS) is the most popular stock in this table. On the other hand KT Corporation (ADR) (NYSE:KT) is the least popular one with only 10 bullish hedge fund positions. Qorvo Inc (NASDAQ:QRVO) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HD Supply Holdings Inc (NASDAQ:HDS) might be a better candidate to consider a long position.

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