Analysts expect Qorvo Inc (NASDAQ:QRVO) to report earnings per share of $1.30 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Qorvo’s earnings. The highest EPS estimate is $1.32 and the lowest is $1.26. Qorvo reported earnings of $1.75 per share in the same quarter last year, which would indicate a negative year over year growth rate of 25.7%. The business is expected to announce its next earnings results on Wednesday, October 30th.
According to Zacks, analysts expect that Qorvo will report full year earnings of $5.12 per share for the current financial year, with EPS estimates ranging from $5.01 to $5.28. For the next financial year, analysts forecast that the firm will report earnings of $6.16 per share, with EPS estimates ranging from $5.18 to $7.49. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Qorvo.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.23. The business had revenue of $775.60 million during the quarter, compared to analysts’ expectations of $738.98 million. Qorvo had a return on equity of 15.77% and a net margin of 6.39%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 earnings per share.
A number of equities analysts have commented on QRVO shares. Mizuho set a $70.00 price objective on shares of Qorvo and gave the stock a “hold” rating in a research report on Friday, August 2nd. UBS Group upped their target price on Qorvo from $68.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Qorvo in a research note on Monday, August 5th. Zacks Investment Research downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $76.86.
Shares of NASDAQ QRVO traded down $0.53 during mid-day trading on Friday, hitting $76.27. The company had a trading volume of 925,894 shares, compared to its average volume of 1,114,656. The company has a current ratio of 3.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $72.31 and a two-hundred day simple moving average of $70.27. Qorvo has a one year low of $54.74 and a one year high of $79.29. The company has a market capitalization of $8.95 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09.
In other Qorvo news, VP Gina Harrison sold 1,328 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $75.98, for a total transaction of $100,901.44. Following the completion of the transaction, the vice president now directly owns 18,689 shares of the company’s stock, valued at $1,419,990.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James L. Klein sold 1,914 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $61.71, for a total value of $118,112.94. Following the completion of the sale, the vice president now directly owns 51,945 shares of the company’s stock, valued at $3,205,525.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,633 shares of company stock worth $2,312,438. 0.71% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Qorvo by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,441,062 shares of the semiconductor company’s stock valued at $87,523,000 after acquiring an additional 175,203 shares in the last quarter. Geode Capital Management LLC lifted its position in Qorvo by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 1,764,706 shares of the semiconductor company’s stock valued at $106,998,000 after acquiring an additional 122,684 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Qorvo in the 1st quarter worth approximately $251,000. Steward Partners Investment Advisory LLC bought a new stake in Qorvo in the first quarter worth $232,000. Finally, Janus Henderson Group PLC boosted its stake in Qorvo by 70.8% in the 1st quarter. Janus Henderson Group PLC now owns 73,246 shares of the semiconductor company’s stock worth $5,254,000 after purchasing an additional 30,355 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.
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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