Qorvo Inc Expected to Post Q1 2020 Earnings of $1.10 Per Share (QRVO)

Qorvo Inc (NASDAQ:QRVO) – Equities research analysts at Oppenheimer upped their Q1 2020 earnings estimates for shares of Qorvo in a research report issued to clients and investors on Wednesday, May 8th. Oppenheimer analyst R. Schafer now anticipates that the semiconductor company will post earnings of $1.10 per share for the quarter, up from their prior forecast of $0.85. Oppenheimer also issued estimates for Qorvo’s Q2 2020 earnings at $1.34 EPS, Q3 2020 earnings at $1.60 EPS, Q4 2020 earnings at $1.07 EPS and FY2020 earnings at $5.12 EPS.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.23. The business had revenue of $680.88 million for the quarter, compared to analysts’ expectations of $670.59 million. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 EPS.



Several other research firms have also recently issued reports on QRVO. DA Davidson upped their price objective on Qorvo from $6.00 to $82.00 in a research report on Wednesday, May 8th. Mizuho upped their price objective on Qorvo from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Raymond James upped their price objective on Qorvo from $70.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised shares of Qorvo from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a report on Wednesday, April 10th. Finally, Barclays reaffirmed a “buy” rating and issued a $80.00 target price on shares of Qorvo in a report on Thursday, May 9th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Qorvo currently has a consensus rating of “Buy” and an average price target of $78.78.

Shares of QRVO opened at $72.86 on Monday. The company has a current ratio of 3.87, a quick ratio of 2.78 and a debt-to-equity ratio of 0.21. Qorvo has a 52 week low of $54.74 and a 52 week high of $86.50. The company has a market capitalization of $8.95 billion, a PE ratio of 13.88, a P/E/G ratio of 1.34 and a beta of 0.92.

In related news, VP James L. Klein sold 1,914 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $77.16, for a total value of $147,684.24. Following the completion of the transaction, the vice president now owns 45,374 shares of the company’s stock, valued at approximately $3,501,057.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ralph Quinsey sold 209,349 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $69.01, for a total transaction of $14,447,174.49. Following the completion of the transaction, the director now directly owns 84,242 shares of the company’s stock, valued at approximately $5,813,540.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,279 shares of company stock valued at $15,097,289. 0.85% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in QRVO. Resources Investment Advisors Inc. bought a new position in shares of Qorvo in the 4th quarter valued at about $27,000. CSat Investment Advisory L.P. lifted its holdings in shares of Qorvo by 82.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 534 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 242 shares during the last quarter. Enlightenment Research LLC bought a new position in shares of Qorvo in the 4th quarter valued at about $43,000. Lavaca Capital LLC bought a new position in shares of Qorvo in the 1st quarter valued at about $45,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Qorvo by 8,987.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,660,561 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 3,620,278 shares during the last quarter. 92.75% of the stock is owned by hedge funds and other institutional investors.

Qorvo Company Profile

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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Earnings History and Estimates for Qorvo (NASDAQ:QRVO)

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