Qorvo Company Profile (NASDAQ:QRVO)

Qorvo trades on the NASDAQ under the ticker symbol "QRVO."

Qorvo, Inc. (NASDAQ:QRVO) posted its quarterly earnings results on Wednesday, May, 3rd. The company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The business earned $643 million during the quarter, compared to the consensus estimate of $632.12 million. Qorvo had a negative net margin of 0.55% and a positive return on equity of 10.39%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share. View Qorvo's Earnings History.

Qorvo is scheduled to release their next quarterly earnings announcement on Monday, July, 31st 2017. View Earnings Estimates for Qorvo.

Qorvo updated its first quarter earnings guidance on Wednesday, May, 3rd. The company provided EPS guidance of $0.70-0.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.03. The company issued revenue guidance of $610-650 million, compared to the consensus revenue estimate of $700.77 million.

23 equities research analysts have issued twelve-month price objectives for Qorvo's shares. Their forecasts range from $50.00 to $90.00. On average, they anticipate Qorvo's stock price to reach $70.68 in the next year. View Analyst Ratings for Qorvo.

Here are some recent quotes from research analysts about Qorvo stock:

• 1. According to Zacks Investment Research, "Qorvo’s tepid first-quarter 2018 guidance primarily reflects weaker-than-expected demand in China. Moreover, higher research & development expense related to custom product development for its largest customers is a concern. We also believe that a probable delay in the launch of Apple iPhone 8 doesn’t bode well for the company. Further, increasing competition remains a major concern. Notably, Qorvo has underperformed the Zacks categorized Semiconductors-Radio Frequency industry over the last 12-months. Nevertheless, the company’s expanding product portfolio is a key positive. Additionally, increased BAW-based product mix, higher utilization rates, and ongoing productivity & quality improvements are key catalysts." (6/21/2017)
• 2. Needham & Company LLC analysts commented, "Qorvo hosted an upbeat analyst day that focused on key IDP growth drivers and increasing RF dollar content in Mobile Products. Collectively, these drivers should enable QRVO to grow at least in-line with its TAM, which is growing at a 10%-15% CAGR. Management also highlighted the performance benefits of its BAW5 process, which is key to the company’s prospects of securing a portion of the mid-/high-band PAD module for Apple’s 2018 iPhone platform. With a statement of work under its Master Supply Agreement with Apple now in place for the mid-/high- band PAD module, we believe QRVO’s chances of securing this win have improved." (5/26/2017)
• 3. Wells Fargo & Company analysts commented, "We are initiating coverage of Qorvo with a Market Perform rating and a valuation range of $60-70, which is based on a multiple of 13-15x our adjusted FY18 EPS of $4.67 (our GAAP FY18 EPS is $1.31). We think that there are many positive aspects to Qorvo as a company and a stock, including expertise in RF products and manufacturing technologies, opportunity for revenue and margin growth, and relatively low valuation. On the other hand, in our view, risks include customer and product concentration, competition from larger companies, low gross margin, and a checkered history of profitability. Our GAAP 2017E and 2018E EPS estimates are -$0.68 and $1.31." (3/7/2017)

Qorvo saw a drop in short interest in June. As of June 30th, there was short interest totalling 9,418,099 shares, a drop of 22.1% from the June 15th total of 12,083,965 shares. Based on an average daily volume of 1,934,499 shares, the days-to-cover ratio is presently 4.9 days. Currently, 7.5% of the company's shares are short sold.

Some companies that are related to Qorvo include MACOM Technology Solutions Holdings (MTSI), Entegris (ENTG), Amkor Technology (AMKR), Brooks Automation (BRKS), Kulicke and Soffa Industries (KLIC), FormFactor (FORM), Ultra Clean Holdings (UCTT), Photronics (PLAB), Nanometrics Incorporated (NANO), Axcelis Technologies (ACLS), PDF Solutions (PDFS), Xcerra Corporation (XCRA), Cohu (COHU), Camtek (CAMT), Mattson Technology (MTSN) and Ultratech (UTEK).

Qorvo's management team includes the folowing people:

• Ralph G. Quinsey, Chairman of the Board
• Robert A. Bruggeworth, President, Chief Executive Officer, Director
• Mark J. Murphy, Chief Financial Officer
• Gina B. Harrison, Vice President, Corporate Controller
• Steven E. Creviston, Corporate Vice President , President - Mobile Products
• James L. Klein, Corporate Vice President , President - Infrastructure & Defense Products
• Walter H. Wilkinson Jr., Lead Independent Director
• Daniel A. DiLeo, Independent Director
• Jeffery R. Gardner, Independent Director
• Charles Scott Gibson, Independent Director

Qorvo's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Manning & Napier Advisors LLC (1.26%), Fisher Asset Management LLC (0.84%), Chevy Chase Trust Holdings Inc. (0.09%), APG Asset Management N.V. (0.08%), Bank of Montreal Can (0.05%) and F&V Capital Management LLC (0.04%). Company insiders that own Qorvo stock include C Scott Gibson, Daniel A Dileo, Gina Harrison, James L Klein, Jeffery R Gardner, John R Harding, Mark J Murphy, Ralph Quinsey, Robert A Bruggeworth, Roderick Nelson, Steven E Creviston and Walden C Rhines. View Institutional Ownership Trends for Qorvo.

Qorvo's stock was sold by a variety of institutional investors in the last quarter, including Fisher Asset Management LLC, Bank of Montreal Can, APG Asset Management N.V., Exxonmobil Investment Management Inc. TX, Creative Planning, Roanoke Asset Management Corp NY, Banced Corp and DnB Asset Management AS. Company insiders that have sold Qorvo stock in the last year include C Scott Gibson, Daniel A Dileo, Gina Harrison, James L Klein, Jeffery R Gardner, John R Harding, Ralph Quinsey, Robert A Bruggeworth, Roderick Nelson and Steven E Creviston. View Insider Buying and Selling for Qorvo.

Qorvo's stock was purchased by a variety of institutional investors in the last quarter, including Manning & Napier Advisors LLC, F&V Capital Management LLC, James Investment Research Inc., Mn Services Vermogensbeheer B.V., Bedrijfstakpensioenfonds Voor DE Media PNO, Bremer Trust National Association, CHURCHILL MANAGEMENT Corp and Fox Run Management L.L.C.. Company insiders that have bought Qorvo stock in the last two years include Mark J Murphy and Walden C Rhines. View Insider Buying and Selling for Qorvo.

Shares of Qorvo can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Qorvo stock can currently be purchased for approximately $69.29.