Brokerages expect Qorvo Inc (NASDAQ:QRVO) to report earnings of $1.31 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Qorvo’s earnings. The lowest EPS estimate is $1.30 and the highest is $1.33. Qorvo reported earnings of $0.96 per share during the same quarter last year, which would indicate a positive year over year growth rate of 36.5%. The company is scheduled to report its next earnings results on Wednesday, August 7th.
On average, analysts expect that Qorvo will report full-year earnings of $5.97 per share for the current fiscal year, with EPS estimates ranging from $5.77 to $6.07. For the next year, analysts forecast that the company will post earnings of $6.81 per share, with EPS estimates ranging from $6.08 to $7.47. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Qorvo.
Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.23. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. The business had revenue of $680.88 million for the quarter, compared to the consensus estimate of $670.59 million. During the same period in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year.
Several research analysts have recently weighed in on QRVO shares. Craig Hallum restated a “buy” rating and issued a $85.00 price target (up previously from $72.00) on shares of Qorvo in a research note on Wednesday, May 8th. BidaskClub cut Qorvo from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Goldman Sachs Group upgraded Qorvo from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $79.00 in a research note on Thursday, March 21st. Piper Jaffray Companies restated an “overweight” rating and issued a $75.00 price target on shares of Qorvo in a research note on Friday, February 8th. Finally, Zacks Investment Research upgraded Qorvo from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Thirteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $76.73.
In related news, VP James L. Klein sold 1,914 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $77.16, for a total transaction of $147,684.24. Following the completion of the sale, the vice president now owns 45,374 shares in the company, valued at $3,501,057.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ralph Quinsey sold 209,349 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $69.01, for a total value of $14,447,174.49. Following the sale, the director now owns 84,242 shares of the company’s stock, valued at approximately $5,813,540.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,024 shares of company stock valued at $17,108,361. 0.85% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc grew its holdings in Qorvo by 1.0% during 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 purchasing an additional 128,991 shares during the period. Boston Partners grew its holdings in Qorvo by 6.5% during the first quarter. Boston Partners now owns 3,916,687 shares of the semiconductor company’s stock valued at $280,944,000 after purchasing an additional 238,370 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Qorvo by 8,987.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,660,561 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 3,620,278 shares during the period. Manning & Napier Group LLC grew its holdings in Qorvo by 3.8% during the fourth quarter. Manning & Napier Group LLC now owns 3,066,202 shares of the semiconductor company’s stock valued at $186,209,000 after purchasing an additional 111,410 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Qorvo by 4.8% during the first quarter. Geode Capital Management LLC now owns 1,849,455 shares of the semiconductor company’s stock valued at $132,440,000 after purchasing an additional 84,749 shares during the period. Institutional investors own 91.52% of the company’s stock.
Qorvo stock traded up $0.27 during mid-day trading on Thursday, hitting $61.54. The company had a trading volume of 4,042,966 shares, compared to its average volume of 1,417,674. 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 has a 12 month low of $54.74 and a 12 month high of $86.50. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92.
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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