$1.15 Billion in Sales Expected for Qorvo, Inc. (NASDAQ:QRVO) This Quarter

Brokerages expect that Qorvo, Inc. (NASDAQ:QRVOGet Rating) will post sales of $1.15 billion for the current quarter, Zacks reports. Five analysts have made estimates for Qorvo’s earnings. Qorvo reported sales of $1.07 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Qorvo will report full-year sales of $4.63 billion for the current year. For the next fiscal year, analysts expect that the firm will post sales of $4.97 billion, with estimates ranging from $4.81 billion to $5.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Qorvo.

Qorvo (NASDAQ:QRVOGet Rating) last released its earnings results on Wednesday, February 2nd. The semiconductor company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.28. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Qorvo had a net margin of 24.60% and a return on equity of 27.27%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.95 EPS.

QRVO has been the subject of several research reports. Barclays decreased their price target on shares of Qorvo from $220.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, February 3rd. Oppenheimer downgraded Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday, January 13th. Benchmark dropped their target price on Qorvo from $225.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. The Goldman Sachs Group downgraded Qorvo from a “buy” rating to a “neutral” rating and set a $138.00 price target for the company. in a research note on Sunday, March 27th. Finally, Zacks Investment Research cut shares of Qorvo from a “hold” rating to a “sell” rating and set a $135.00 price objective for the company. in a research report on Friday, February 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average price target of $179.50.

In other news, VP Paul J. Fego sold 861 shares of the firm’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $131.78, for a total transaction of $113,462.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baupost Group LLC MA increased its holdings in Qorvo by 16.9% in the 4th quarter. Baupost Group LLC MA now owns 5,945,744 shares of the semiconductor company’s stock worth $929,855,000 after acquiring an additional 861,278 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in Qorvo by 30.1% in the 4th quarter. Vulcan Value Partners LLC now owns 5,640,650 shares of the semiconductor company’s stock worth $882,141,000 after acquiring an additional 1,304,458 shares during the last quarter. Boston Partners increased its holdings in Qorvo by 20.6% in the 4th quarter. Boston Partners now owns 4,746,394 shares of the semiconductor company’s stock worth $742,387,000 after acquiring an additional 809,212 shares during the last quarter. Capital Research Global Investors increased its holdings in Qorvo by 11.9% in the 4th quarter. Capital Research Global Investors now owns 3,055,598 shares of the semiconductor company’s stock worth $477,865,000 after acquiring an additional 325,801 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Qorvo by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 2,240,291 shares of the semiconductor company’s stock worth $349,524,000 after acquiring an additional 115,942 shares during the last quarter. 83.49% of the stock is owned by institutional investors.

NASDAQ QRVO opened at $113.38 on Friday. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 0.95 and a beta of 1.37. Qorvo has a 52-week low of $111.74 and a 52-week high of $201.68. The business has a 50 day simple moving average of $127.20 and a 200 day simple moving average of $145.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.58 and a current ratio of 3.63.

Qorvo Company Profile (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

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Earnings History and Estimates for Qorvo (NASDAQ:QRVO)

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