Qorvo (QRVO) to Release Earnings on Wednesday

Qorvo (NASDAQ:QRVO - Get Free Report) is set to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $1.02 per share for the quarter. Qorvo has set its Q4 guidance at $1.20 EPS and its Q4 2024 guidance at 1.200-1.200 EPS.Individual interested in participating in the company's earnings conference call can do so using this link.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.47. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. On average, analysts expect Qorvo to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Qorvo Price Performance

Shares of NASDAQ:QRVO traded up $4.17 on Wednesday, hitting $112.15. The stock had a trading volume of 1,551,433 shares, compared to its average volume of 1,264,024. The firm's 50 day moving average price is $113.53 and its 200-day moving average price is $104.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. Qorvo has a twelve month low of $80.62 and a twelve month high of $121.65. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of -52.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.56.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Gina Harrison sold 354 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,381 shares of company stock valued at $745,434. Corporate insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com lowered Qorvo from a "buy" rating to a "hold" rating in a research report on Thursday, February 8th. Barclays raised their price objective on shares of Qorvo from $95.00 to $100.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 16th. Rosenblatt Securities upped their target price on shares of Qorvo from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, February 1st. Piper Sandler dropped their price objective on shares of Qorvo from $120.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group increased their price objective on Qorvo from $104.00 to $117.00 and gave the company a "neutral" rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Qorvo currently has a consensus rating of "Hold" and an average price target of $111.53.

About Qorvo

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.