Brokerages expect that Qorvo, Inc. (NASDAQ:QRVO) will post $840.55 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Qorvo’s earnings. The highest sales estimate is $842.60 million and the lowest is $840.00 million. Qorvo posted sales of $826.35 million during the same quarter last year, which suggests a positive year over year growth rate of 1.7%. The company is expected to issue its next earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Qorvo will report full-year sales of $840.55 million for the current fiscal year, with estimates ranging from $3.08 billion to $3.12 billion. For the next year, analysts anticipate that the firm will report sales of $3.37 billion per share, with estimates ranging from $3.23 billion to $3.45 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Qorvo.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The firm had revenue of $821.60 million for the quarter, compared to the consensus estimate of $810.47 million. During the same period in the previous year, the company earned $1.29 earnings per share. The company’s quarterly revenue was down 5.0% on a year-over-year basis.
QRVO has been the topic of several research reports. JPMorgan Chase & Co. set a $88.00 price objective on shares of Qorvo and gave the company a “buy” rating in a report on Wednesday, November 15th. Craig Hallum downgraded shares of Qorvo from a “buy” rating to a “hold” rating and decreased their price objective for the company from $78.00 to $71.00 in a report on Thursday, November 2nd. Canaccord Genuity upped their price objective on shares of Qorvo from $81.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $86.00 price objective on shares of Qorvo in a report on Sunday, September 17th. Finally, Northland Securities downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. Qorvo presently has an average rating of “Hold” and an average price target of $76.89.
Qorvo (NASDAQ:QRVO) traded down $0.69 during trading hours on Wednesday, hitting $68.03. 1,379,100 shares of the company’s stock traded hands, compared to its average volume of 1,510,000. Qorvo has a 12-month low of $53.09 and a 12-month high of $81.20. The firm has a market capitalization of $8,560.00 and a P/E ratio of -485.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80.
In related news, Director Daniel A. Dileo sold 2,500 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now owns 4,622 shares of the company’s stock, valued at $369,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter H. Wilkinson sold 15,925 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the sale, the director now directly owns 62,480 shares of the company’s stock, valued at approximately $4,999,649.60. The disclosure for this sale can be found here. Insiders have sold 58,096 shares of company stock valued at $4,335,007 in the last ninety days. 0.91% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC bought a new position in shares of Qorvo in the third quarter worth about $130,000. Federated Investors Inc. PA lifted its holdings in shares of Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 90 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Qorvo by 79.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 1,000 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after acquiring an additional 126 shares during the last quarter. Finally, Achmea Investment Management B.V. bought a new position in shares of Qorvo in the second quarter worth about $188,000. 96.72% of the stock is owned by institutional investors and hedge funds.
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Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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