Wall Street analysts expect Qorvo Inc (NASDAQ:QRVO) to announce earnings per share (EPS) of $1.67 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Qorvo’s earnings, with estimates ranging from $1.63 to $1.68. Qorvo posted earnings of $1.85 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 9.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 6th.
According to Zacks, analysts expect that Qorvo will report full year earnings of $5.63 per share for the current year, with EPS estimates ranging from $5.15 to $5.73. For the next fiscal year, analysts expect that the company will post earnings of $6.66 per share, with EPS estimates ranging from $5.90 to $7.41. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Qorvo.
Qorvo (NASDAQ:QRVO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.22. Qorvo had a return on equity of 15.10% and a net margin of 8.19%. The business had revenue of $806.70 million during the quarter, compared to the consensus estimate of $754.67 million. During the same period in the previous year, the business earned $1.75 EPS. The business’s quarterly revenue was down 8.8% on a year-over-year basis.
A number of research firms recently weighed in on QRVO. BidaskClub upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity cut Qorvo from a “buy” rating to a “hold” rating and upped their price target for the stock from $92.00 to $110.00 in a report on Wednesday. JPMorgan Chase & Co. set a $110.00 price target on Qorvo and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays upped their price target on Qorvo from $65.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Craig Hallum restated a “buy” rating and issued a $100.00 price target (up previously from $85.00) on shares of Qorvo in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $91.39.
In related news, Director David H. Y. Ho sold 10,660 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.22, for a total value of $1,089,665.20. Following the sale, the director now owns 16,844 shares of the company’s stock, valued at approximately $1,721,793.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Walter H. Wilkinson sold 2,762 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $101.71, for a total value of $280,923.02. Following the completion of the sale, the director now directly owns 36,565 shares in the company, valued at approximately $3,719,026.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,925 shares of company stock worth $2,158,867. 0.71% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of QRVO. Arlington Partners LLC purchased a new stake in Qorvo in the 2nd quarter valued at approximately $29,000. Strategic Blueprint LLC purchased a new stake in Qorvo in the 3rd quarter valued at approximately $37,000. Pearl River Capital LLC purchased a new stake in Qorvo in the 2nd quarter valued at approximately $42,000. Quantamental Technologies LLC purchased a new stake in Qorvo in the 2nd quarter valued at approximately $42,000. Finally, Griffin Asset Management Inc. purchased a new stake in Qorvo in the 2nd quarter valued at approximately $42,000. 93.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Qorvo stock traded up $0.05 on Thursday, hitting $103.75. The stock had a trading volume of 941,500 shares, compared to its average volume of 2,144,584. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 2.16 and a beta of 1.11. The company has a current ratio of 3.45, a quick ratio of 2.37 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average price is $83.70 and its 200 day moving average price is $73.41. Qorvo has a 52-week low of $54.74 and a 52-week high of $104.88.
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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