Equities research analysts expect Qorvo Inc (NASDAQ:QRVO) to post earnings of $1.17 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Qorvo’s earnings, with estimates ranging from $1.15 to $1.31. Qorvo reported earnings per share of $0.96 in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.9%. The firm is scheduled to issue its next earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that Qorvo will report full year earnings of $5.01 per share for the current financial year, with EPS estimates ranging from $4.49 to $5.98. For the next year, analysts expect that the business will report earnings of $6.15 per share, with EPS estimates ranging from $5.52 to $7.29. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Qorvo.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.23. The business had revenue of $680.88 million during the quarter, compared to analysts’ expectations of $670.59 million. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 earnings per share.
Several analysts have weighed in on the company. DA Davidson boosted their price objective on Qorvo from $6.00 to $82.00 in a report on Wednesday, May 8th. Mizuho boosted their price objective on Qorvo from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Raymond James boosted their price objective on Qorvo from $70.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Zacks Investment Research raised Qorvo from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Wednesday, April 10th. Finally, Barclays reissued a “buy” rating and set a $80.00 price objective on shares of Qorvo in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $76.41.
In other Qorvo news, insider Robert A. Bruggeworth sold 25,831 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $72.52, for a total transaction of $1,873,264.12. Following the completion of the transaction, the insider now owns 201,794 shares of the company’s stock, valued at approximately $14,634,100.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James L. Klein sold 1,914 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $77.16, for a total value of $147,684.24. Following the transaction, the vice president now directly owns 45,374 shares of the company’s stock, valued at approximately $3,501,057.84. The disclosure for this sale can be found here. Insiders sold a total of 32,659 shares of company stock valued at $2,383,456 over the last quarter. 0.85% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in QRVO. Vanguard Group Inc boosted its holdings in shares of Qorvo by 1.0% in the third quarter. Vanguard Group Inc now owns 13,123,467 shares of the semiconductor company’s stock valued at $1,009,063,000 after acquiring an additional 128,991 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Qorvo by 44.5% during the fourth quarter. Wetherby Asset Management Inc. now owns 4,111 shares of the semiconductor company’s stock valued at $250,000 after buying an additional 1,267 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Qorvo by 5.0% during the fourth quarter. Advisors Asset Management Inc. now owns 15,681 shares of the semiconductor company’s stock valued at $952,000 after buying an additional 742 shares during the period. Rhumbline Advisers boosted its position in shares of Qorvo by 2.1% during the fourth quarter. Rhumbline Advisers now owns 253,978 shares of the semiconductor company’s stock valued at $15,424,000 after buying an additional 5,255 shares during the period. Finally, Dupont Capital Management Corp boosted its position in shares of Qorvo by 64.3% during the fourth quarter. Dupont Capital Management Corp now owns 2,917 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 1,142 shares during the period. 92.95% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:QRVO traded down $1.81 on Friday, hitting $61.50. 1,272,927 shares of the stock were exchanged, compared to its average volume of 1,456,538. The stock has a market capitalization of $7.48 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.34 and a beta of 1.07. Qorvo has a 52 week low of $54.74 and a 52 week high of $86.50. The company has a current ratio of 3.87, a quick ratio of 2.69 and a debt-to-equity ratio of 0.21.
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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