Qorvo (NASDAQ:QRVO) Announces Quarterly Earnings Results

Qorvo (NASDAQ:QRVO) issued its earnings results on Tuesday. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16, Briefing.com reports. The business had revenue of $886.70 million during the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.73% and a negative net margin of 0.66%. Qorvo’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Qorvo updated its Q2 guidance to $1.75-1.95 EPS and its Q2 2025 guidance to 1.750-1.950 EPS.

Qorvo Stock Down 5.4 %

QRVO traded down $6.43 during trading on Thursday, reaching $113.37. The stock had a trading volume of 522,048 shares, compared to its average volume of 1,358,729. The stock’s 50 day moving average is $112.78 and its two-hundred day moving average is $110.62. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of -164.11, a P/E/G ratio of 1.17 and a beta of 1.46. Qorvo has a one year low of $80.62 and a one year high of $130.99.

Analysts Set New Price Targets

A number of analysts have recently weighed in on QRVO shares. JPMorgan Chase & Co. increased their price objective on Qorvo from $100.00 to $115.00 and gave the company an “underweight” rating in a research note on Wednesday. Rosenblatt Securities increased their price objective on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen increased their price objective on Qorvo from $110.00 to $125.00 and gave the company a “hold” rating in a research note on Wednesday. Barclays increased their price objective on Qorvo from $100.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Craig Hallum increased their price objective on Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $120.83.

Insiders Place Their Bets

In other news, SVP Paul J. Fego sold 2,132 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the transaction, the senior vice president now directly owns 25,201 shares in the company, valued at $2,502,711.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Paul J. Fego sold 2,132 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the transaction, the senior vice president now directly owns 25,201 shares in the company, valued at $2,502,711.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total value of $1,527,900.00. Following the transaction, the chief executive officer now owns 190,161 shares of the company’s stock, valued at $19,016,100. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,372 shares of company stock worth $4,517,858. 0.46% of the stock is owned by corporate insiders.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.