$1.60 EPS Expected for Qorvo, Inc. (QRVO) This Quarter

Equities analysts predict that Qorvo, Inc. (NASDAQ:QRVO) will post earnings per share of $1.60 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Qorvo’s earnings, with the lowest EPS estimate coming in at $1.58 and the highest estimate coming in at $1.62. Qorvo reported earnings per share of $1.35 in the same quarter last year, which indicates a positive year-over-year growth rate of 18.5%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that Qorvo will report full-year earnings of $5.46 per share for the current financial year, with EPS estimates ranging from $5.32 to $5.55. For the next fiscal year, analysts forecast that the business will post earnings of $6.43 per share, with EPS estimates ranging from $5.88 to $6.77. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Qorvo.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. The firm had revenue of $821.60 million for the quarter, compared to the consensus estimate of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS.

A number of brokerages have recently issued reports on QRVO. BidaskClub downgraded shares of Qorvo from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Morgan Stanley raised their price target on shares of Qorvo from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. ValuEngine downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Cowen reaffirmed a “hold” rating and set a $85.00 price target on shares of Qorvo in a report on Sunday, September 17th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. Qorvo currently has a consensus rating of “Hold” and a consensus target price of $76.89.

Shares of Qorvo (NASDAQ QRVO) traded up $0.28 during midday trading on Friday, hitting $67.07. 844,946 shares of the stock were exchanged, compared to its average volume of 1,519,771. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80. The stock has a market cap of $8,490.00 and a P/E ratio of 16.76. Qorvo has a 12-month low of $52.05 and a 12-month high of $81.20.

In other Qorvo news, Director Daniel A. Dileo sold 2,500 shares of Qorvo stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the transaction, the director now owns 4,622 shares of the company’s stock, valued at $369,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James L. Klein sold 2,600 shares of Qorvo stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $70.84, for a total transaction of $184,184.00. Following the transaction, the vice president now directly owns 42,993 shares in the company, valued at approximately $3,045,624.12. The disclosure for this sale can be found here. Insiders have sold 60,696 shares of company stock worth $4,519,191 in the last ninety days. Insiders own 0.91% of the company’s stock.

A number of large investors have recently modified their holdings of QRVO. Alyeska Investment Group L.P. purchased a new position in Qorvo during the third quarter valued at approximately $118,506,000. Manning & Napier Advisors LLC lifted its holdings in Qorvo by 52.5% during the third quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock valued at $172,674,000 after purchasing an additional 840,755 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Qorvo by 3.6% during the second quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock valued at $794,638,000 after purchasing an additional 430,596 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Qorvo during the second quarter valued at approximately $18,990,000. Finally, Cornerstone Capital Management Holdings LLC. lifted its holdings in Qorvo by 113.1% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 374,721 shares of the semiconductor company’s stock valued at $26,484,000 after purchasing an additional 198,856 shares in the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

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Qorvo Company Profile

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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