Qorvo Company Profile (NASDAQ:QRVO)

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

Qorvo, Inc. (NASDAQ:QRVO) announced its quarterly earnings data on Wednesday, August, 2nd. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.07. The company had revenue of $640.80 million for the quarter, compared to analyst estimates of $632.18 million. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The firm's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. View Qorvo's Earnings History.

Qorvo is scheduled to release their next quarterly earnings announcement on Wednesday, November, 1st 2017. View Earnings Estimates for Qorvo.

Qorvo issued an update on its second quarter earnings guidance on Wednesday, August, 2nd. The company provided earnings per share (EPS) guidance of $1.36-1.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.52. The company issued revenue guidance of $800-820 million, compared to the consensus revenue estimate of $845.84 million.

24 equities research analysts have issued 12-month target prices for Qorvo's stock. Their forecasts range from $50.00 to $95.00. On average, they anticipate Qorvo's share price to reach $73.95 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 has underperformed the industry on a year-to-date basis. Weakness in China and higher research & development (R&D) expense related to custom-product development for its largest customer, Apple is hurting profitability. Qorvo stated that demand environment in China is improving, which is positively impacting channel inventory. However, mix remains a drag as consumers are favoring lower content phones, witnessed so far in the cycle. Management now expects top-line to grow in the range of 4–5%, down from its previous expectation of double-digit year-over-year growth. The company cited weakness in China in the first half of the fiscal, which will be offset by double-digit year-over-year growth in the second half. Nevertheless, we believe that expanding product portfolio will help the company achieve strong revenue growth in fiscal 2018." (9/1/2017)
• 2. Mizuho analysts commented, "We favor AVGO and SWKS with better, cleaner execution, higher topline growth, solid GMs, FCF, and diversification." (8/4/2017)
• 3. 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)
• 4. 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 decline in short interest during the month of August. As of August 31st, there was short interest totalling 8,700,984 shares, a decline of 15.6% from the August 15th total of 10,304,017 shares. Based on an average trading volume of 907,717 shares, the short-interest ratio is currently 9.6 days. Currently, 6.9% of the shares of the company are sold short.

Some companies that are related to Qorvo include Entegris (ENTG), MACOM Technology Solutions Holdings (MTSI), Amkor Technology (AMKR), Brooks Automation (BRKS), Kulicke and Soffa Industries (KLIC), FormFactor (FORM), Ultra Clean Holdings (UCTT), Axcelis Technologies (ACLS), Nanometrics Incorporated (NANO), Cohu (COHU), Photronics (PLAB), Xcerra Corporation (XCRA), PDF Solutions (PDFS), Camtek (CAMT), Chipmos Technologies (IMOS), 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 investors include Capital Research Global Investors (14.39%), Vanguard Group Inc. (9.88%), FMR LLC (9.25%), BlackRock Inc. (6.74%), State Street Corp (4.21%) and Ameriprise Financial Inc. (3.52%). 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 FMR LLC, Alliancebernstein L.P., Ameriprise Financial Inc., JPMorgan Chase & Co., Todd Asset Management LLC, Lord Abbett & CO. LLC, BlackRock Inc. and State of Tennessee Treasury Department. Company insiders that have sold Qorvo stock in the last year include 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 acquired by a variety of institutional investors in the last quarter, including Manning & Napier Advisors LLC, Vanguard Group Inc., Renaissance Technologies LLC, First Trust Advisors LP, Quantitative Investment Management LLC, Parametric Portfolio Associates LLC, Monarch Partners Asset Management LLC and Grisanti Capital Management LLC. 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 $70.32.