Wall Street brokerages expect Qorvo Inc (NASDAQ:QRVO) to report earnings of $1.67 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Qorvo’s earnings. The highest EPS estimate is $1.68 and the lowest is $1.63. Qorvo reported 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 firm is expected to report its next quarterly earnings results on Thursday, February 6th.
On average, analysts expect that Qorvo will report full-year earnings of $5.63 per share for the current financial year, with EPS estimates ranging from $5.15 to $5.73. For the next financial year, analysts anticipate that the firm will report earnings of $6.66 per share, with EPS estimates ranging from $5.90 to $7.41. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Qorvo.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.22. The company had revenue of $806.70 million during the quarter, compared to analyst estimates of $754.67 million. Qorvo had a return on equity of 15.10% and a net margin of 8.19%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 earnings per share.
Several equities research analysts have commented on the company. Susquehanna Bancshares upped their price target on Qorvo from $70.00 to $85.00 and gave the stock a “neutral” rating in a research note 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 research note on Friday, November 1st. Morgan Stanley upped their price target on Qorvo from $77.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. set a $110.00 price target on Qorvo and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Cowen restated an “outperform” rating and set a $95.00 price target (up from $90.00) on shares of Qorvo in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $91.39.
In related news, VP James L. Klein sold 1,914 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $104.40, for a total value of $199,821.60. Following the completion of the transaction, the vice president now owns 47,665 shares of the company’s stock, valued at $4,976,226. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter H. Wilkinson sold 3,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $74.25, for a total value of $222,750.00. Following the completion of the transaction, the director now directly owns 39,327 shares of the company’s stock, valued at approximately $2,920,029.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,839 shares of company stock valued at $2,776,289. Insiders own 0.71% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Arlington Partners LLC purchased a new position in Qorvo in the second quarter valued at about $29,000. Strategic Blueprint LLC bought a new position in Qorvo during the 3rd quarter worth approximately $37,000. Pearl River Capital LLC bought a new position in Qorvo during the 2nd quarter worth approximately $42,000. Quantamental Technologies LLC bought a new position in Qorvo during the 2nd quarter worth approximately $42,000. Finally, Griffin Asset Management Inc. bought a new position in Qorvo during the 2nd quarter worth approximately $42,000. 92.47% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:QRVO traded down $0.41 on Thursday, hitting $102.84. 1,198,410 shares of the stock were exchanged, compared to its average volume of 1,418,005. The stock has a market cap of $12.05 billion, a PE ratio of 19.59, a PEG 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 stock has a fifty day moving average of $85.48 and a 200-day moving average of $73.84. Qorvo has a fifty-two week low of $54.74 and a fifty-two week high of $104.88.
Qorvo Company Profile
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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