Zacks: Analysts Anticipate Qorvo Inc (QRVO) Will Announce Earnings of $1.06 Per Share

Equities analysts forecast that Qorvo Inc (NASDAQ:QRVO) will report earnings per share (EPS) of $1.06 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Qorvo’s earnings. The highest EPS estimate is $1.08 and the lowest is $1.05. Qorvo posted earnings of $1.07 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 0.9%. The firm is scheduled to announce its next earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Qorvo will report full-year earnings of $5.61 per share for the current fiscal year, with EPS estimates ranging from $5.60 to $5.64. For the next year, analysts anticipate that the firm will post earnings of $5.55 per share, with EPS estimates ranging from $5.27 to $5.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for Qorvo.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Thursday, February 7th. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.30. The firm had revenue of $832.20 million during the quarter, compared to analyst estimates of $819.21 million. Qorvo had a net margin of 1.92% and a return on equity of 14.11%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 EPS.



A number of research firms have recently issued reports on QRVO. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Qorvo in a report on Monday, March 4th. BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Zacks Investment Research raised shares of Qorvo from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine raised shares of Qorvo from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Finally, Cowen reaffirmed a “market perform” rating and set a $71.00 target price (down previously from $75.00) on shares of Qorvo in a report on Thursday, November 29th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $76.05.

NASDAQ QRVO traded up $1.03 on Friday, hitting $69.68. The company had a trading volume of 77,311 shares, compared to its average volume of 1,323,426. Qorvo has a 12-month low of $54.74 and a 12-month high of $86.50. The firm has a market cap of $8.43 billion, a PE ratio of 14.57, a PEG ratio of 1.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.78 and a current ratio of 3.90.

In other Qorvo news, VP Steven E. Creviston sold 3,000 shares of the stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $65.00, for a total value of $195,000.00. Following the transaction, the vice president now directly owns 58,006 shares in the company, valued at $3,770,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $65.00, for a total transaction of $390,000.00. Following the completion of the transaction, the vice president now owns 61,006 shares in the company, valued at $3,965,390. The disclosure for this sale can be found here. Insiders sold 222,365 shares of company stock worth $15,309,904 over the last quarter. 0.85% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY grew its position in shares of Qorvo by 0.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,140 shares of the semiconductor company’s stock worth $1,102,000 after acquiring an additional 161 shares during the last quarter. CSat Investment Advisory L.P. grew its position in shares of Qorvo by 82.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 534 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 242 shares during the last quarter. Alps Advisors Inc. grew its position in shares of Qorvo by 3.9% during the fourth quarter. Alps Advisors Inc. now owns 7,150 shares of the semiconductor company’s stock worth $434,000 after acquiring an additional 266 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Qorvo by 0.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 80,126 shares of the semiconductor company’s stock worth $4,627,000 after acquiring an additional 273 shares during the last quarter. Finally, ETF Managers Group LLC grew its position in shares of Qorvo by 17.8% during the fourth quarter. ETF Managers Group LLC now owns 1,882 shares of the semiconductor company’s stock worth $114,000 after acquiring an additional 284 shares during the last quarter. Institutional investors own 94.09% of the company’s stock.

About Qorvo

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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