$2.94 Earnings Per Share Expected for Qorvo, Inc. (NASDAQ:QRVO) This Quarter

Wall Street brokerages forecast that Qorvo, Inc. (NASDAQ:QRVOGet Rating) will report earnings per share (EPS) of $2.94 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Qorvo’s earnings, with the lowest EPS estimate coming in at $2.93 and the highest estimate coming in at $2.94. Qorvo reported earnings of $2.74 per share during the same quarter last year, which would suggest a positive year over year growth rate of 7.3%. The firm is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Qorvo will report full year earnings of $12.18 per share for the current financial year, with EPS estimates ranging from $12.16 to $12.18. For the next financial year, analysts expect that the business will report earnings of $12.85 per share, with EPS estimates ranging from $12.00 to $13.82. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Qorvo.

Qorvo (NASDAQ:QRVOGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The semiconductor company reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.41. Qorvo had a return on equity of 27.27% and a net margin of 24.60%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $2.59 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis.

A number of analysts have issued reports on the company. Morgan Stanley lowered Qorvo from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $185.00 to $150.00 in a research report on Thursday, March 3rd. Mizuho decreased their target price on Qorvo from $155.00 to $135.00 and set a “neutral” rating on the stock in a research note on Monday, April 18th. Rosenblatt Securities lowered their target price on Qorvo from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, February 3rd. Barclays cut their price target on shares of Qorvo from $200.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. Finally, KGI Securities lowered shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a research note on Friday, April 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and an average target price of $176.38.

Shares of QRVO opened at $119.34 on Thursday. The firm has a 50-day simple moving average of $122.60 and a two-hundred day simple moving average of $140.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.63 and a quick ratio of 2.58. Qorvo has a 1-year low of $108.31 and a 1-year high of $201.46. The stock has a market cap of $12.94 billion, a PE ratio of 12.05, a P/E/G ratio of 0.94 and a beta of 1.34.

In other Qorvo news, VP Paul J. Fego sold 861 shares of the firm’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $131.78, for a total transaction of $113,462.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Baupost Group LLC MA increased its stake in Qorvo by 16.9% in the fourth quarter. Baupost Group LLC MA now owns 5,945,744 shares of the semiconductor company’s stock valued at $929,855,000 after purchasing an additional 861,278 shares during the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of Qorvo by 30.1% during 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 period. Boston Partners boosted its position in shares of Qorvo by 20.6% in the fourth 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 grew its holdings in Qorvo by 11.9% in the fourth quarter. Capital Research Global Investors now owns 3,055,598 shares of the semiconductor company’s stock valued at $477,865,000 after purchasing an additional 325,801 shares during the period. Finally, Geode Capital Management LLC increased its position in Qorvo by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 2,240,291 shares of the semiconductor company’s stock worth $349,524,000 after purchasing an additional 115,942 shares during the last quarter. 85.87% of the stock is currently owned by institutional investors.

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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