Qorvo Inc (NASDAQ:QRVO) Expected to Announce Earnings of $1.30 Per Share

Equities analysts expect that Qorvo Inc (NASDAQ:QRVO) will announce earnings of $1.30 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Qorvo’s earnings. The lowest EPS estimate is $1.26 and the highest is $1.32. Qorvo reported earnings per share of $1.75 in the same quarter last year, which indicates a negative year-over-year growth rate of 25.7%. The business is scheduled to announce its next earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Qorvo will report full year earnings of $5.12 per share for the current year, with EPS estimates ranging from $5.01 to $5.28. For the next fiscal year, analysts anticipate that the business will post earnings of $6.16 per share, with EPS estimates ranging from $5.18 to $7.49. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Qorvo.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.23. The company had revenue of $775.60 million during the quarter, compared to analyst estimates of $738.98 million. Qorvo had a return on equity of 15.77% and a net margin of 6.39%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share.

A number of equities analysts recently issued reports on QRVO shares. Cowen reissued a “market perform” rating and issued a $75.00 price objective (up from $65.00) on shares of Qorvo in a report on Friday, August 2nd. Mizuho set a $70.00 price objective on Qorvo and gave the stock a “hold” rating in a report on Friday, August 2nd. DA Davidson raised Qorvo from a “sell” rating to a “neutral” rating and set a $74.00 price objective for the company in a report on Monday, August 5th. Craig Hallum reissued a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Qorvo in a report on Friday, August 2nd. Finally, UBS Group increased their price objective on Qorvo from $68.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Fourteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $77.45.

In other Qorvo news, VP Gina Harrison sold 1,328 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $75.98, for a total transaction of $100,901.44. Following the completion of the transaction, the vice president now directly owns 18,689 shares of the company’s stock, valued at approximately $1,419,990.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James L. Klein sold 1,914 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $70.56, for a total value of $135,051.84. Following the transaction, the vice president now directly owns 50,031 shares of the company’s stock, valued at $3,530,187.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,633 shares of company stock valued at $2,341,110. 0.71% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Arlington Partners LLC bought a new position in Qorvo during the 2nd quarter valued at $29,000. Pearl River Capital LLC acquired a new stake in shares of Qorvo during the 2nd quarter valued at $42,000. Quantamental Technologies LLC acquired a new stake in shares of Qorvo during the 2nd quarter valued at $42,000. Griffin Asset Management Inc. acquired a new stake in shares of Qorvo during the 2nd quarter valued at $42,000. Finally, CSat Investment Advisory L.P. lifted its position in shares of Qorvo by 60.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 806 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 305 shares during the last quarter. 91.19% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:QRVO traded down $0.92 during trading on Monday, hitting $73.96. 1,162,365 shares of the company traded hands, compared to its average volume of 1,354,462. Qorvo has a one year low of $54.74 and a one year high of $78.98. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.79 and a beta of 1.09. The business’s fifty day moving average is $74.02 and its 200-day moving average is $71.07. The company has a quick ratio of 2.30, a current ratio of 3.44 and a debt-to-equity ratio of 0.23.

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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