Brokerages expect Qorvo, Inc. (NASDAQ:QRVO) to post $2.44 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Qorvo's earnings, with the lowest EPS estimate coming in at $2.42 and the highest estimate coming in at $2.50. Qorvo reported earnings of $1.57 per share during the same quarter last year, which indicates a positive year over year growth rate of 55.4%. The company is expected to issue its next quarterly earnings report on Thursday, May 6th.
According to Zacks, analysts expect that Qorvo will report full-year earnings of $9.45 per share for the current year, with EPS estimates ranging from $9.43 to $9.51. For the next year, analysts expect that the company will report earnings of $10.67 per share, with EPS estimates ranging from $9.85 to $11.32. Zacks' earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Qorvo.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, February 3rd. The semiconductor company reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $2.48 by $0.60. Qorvo had a return on equity of 18.08% and a net margin of 12.71%. The company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the prior year, the business posted $1.86 earnings per share. The company's revenue for the quarter was up 26.0% compared to the same quarter last year.
Several research analysts have recently issued reports on QRVO shares. Raymond James increased their price target on Qorvo from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, February 4th. The Goldman Sachs Group upped their price objective on Qorvo from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, December 14th. BMO Capital Markets upped their price objective on Qorvo from $135.00 to $190.00 and gave the company a "market perform" rating in a report on Wednesday, February 3rd. Craig Hallum upped their price objective on Qorvo from $160.00 to $195.00 and gave the company a "buy" rating in a report on Thursday, February 4th. Finally, Benchmark upped their price objective on Qorvo from $185.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, February 4th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of "Buy" and an average price target of $178.09.
NASDAQ:QRVO opened at $193.52 on Friday. Qorvo has a 1 year low of $80.80 and a 1 year high of $199.94. The stock has a market cap of $21.92 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 1.47 and a beta of 1.51. The business has a fifty day moving average of $178.23 and a 200-day moving average of $160.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.75 and a current ratio of 2.07.
A number of large investors have recently bought and sold shares of QRVO. Amundi Pioneer Asset Management Inc. raised its position in Qorvo by 46.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 87,061 shares of the semiconductor company's stock valued at $6,244,000 after buying an additional 27,692 shares during the period. First Allied Advisory Services Inc. acquired a new stake in Qorvo in the third quarter valued at approximately $212,000. Morgan Stanley lifted its stake in Qorvo by 25.4% in the third quarter. Morgan Stanley now owns 313,043 shares of the semiconductor company's stock valued at $40,386,000 after acquiring an additional 63,486 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Qorvo by 7.9% in the third quarter. Advisors Asset Management Inc. now owns 12,154 shares of the semiconductor company's stock valued at $1,568,000 after acquiring an additional 885 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in Qorvo in the third quarter valued at approximately $2,555,000. 84.57% of the stock is currently owned by hedge funds and other institutional investors.
Qorvo Company Profile
Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates in two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters and duplexers, antenna tuners, RF power management integrated circuits, multimode/multi-band PAs and transmit modules, antenna-plexers, discrete filters and duplexers, discrete switches, and UWB system solutions, as well as envelope tracking power management solutions, antenna control solutions, and UWB system solutions supporting secure, low power, location, and communication services.
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