Qorvo (QRVO) Scheduled to Post Quarterly Earnings on Wednesday

Qorvo (NASDAQ:QRVO) is set to post its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Qorvo to post earnings of $1.02 per share for the quarter. Qorvo has set its Q4 guidance at $1.20 EPS and its Q4 2024 guidance at 1.200-1.200 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. On average, analysts expect Qorvo to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Qorvo Stock Performance

NASDAQ QRVO opened at $107.98 on Wednesday. The stock has a market cap of $10.43 billion, a PE ratio of -50.22, a P/E/G ratio of 0.82 and a beta of 1.56. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. Qorvo has a twelve month low of $80.62 and a twelve month high of $121.65. The stock has a fifty day simple moving average of $113.60 and a 200-day simple moving average of $104.70.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Qorvo in a report on Thursday, February 1st. Rosenblatt Securities raised their target price on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Finally, Susquehanna restated a “neutral” rating and set a $100.00 target price on shares of Qorvo in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Qorvo currently has an average rating of “Hold” and a consensus price target of $111.53.

Insider Buying and Selling at Qorvo

In other news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the sale, the vice president now directly owns 18,442 shares in the company, valued at approximately $2,102,388. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.