Wall Street analysts expect Qorvo, Inc. (NASDAQ:QRVO) to report $3.25 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have issued estimates for Qorvo’s earnings. The highest EPS estimate is $3.28 and the lowest is $3.24. Qorvo reported earnings of $2.43 per share in the same quarter last year, which indicates a positive year over year growth rate of 33.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 3rd.
On average, analysts expect that Qorvo will report full-year earnings of $12.10 per share for the current financial year, with EPS estimates ranging from $11.92 to $12.34. For the next financial year, analysts expect that the business will post earnings of $13.40 per share, with EPS estimates ranging from $13.05 to $13.84. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Qorvo.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, August 4th. The semiconductor company reported $2.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.38. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Qorvo had a return on equity of 26.25% and a net margin of 21.26%. Qorvo’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS.
In other news, CEO Robert A. Bruggeworth sold 4,868 shares of the firm’s stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of $181.80, for a total value of $885,002.40. Following the transaction, the chief executive officer now owns 154,510 shares in the company, valued at $28,089,918. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP James L. Klein sold 1,909 shares of Qorvo stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $186.72, for a total value of $356,448.48. Following the transaction, the vice president now owns 42,256 shares in the company, valued at approximately $7,890,040.32. The disclosure for this sale can be found here. Insiders sold 9,551 shares of company stock worth $1,757,560 over the last three months. Corporate insiders own 0.52% of the company’s stock.
Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC raised its position in Qorvo by 67.2% in the first quarter. Lazard Asset Management LLC now owns 16,774 shares of the semiconductor company’s stock valued at $3,064,000 after purchasing an additional 6,744 shares during the period. Ameriprise Financial Inc. raised its position in Qorvo by 31.7% in the first quarter. Ameriprise Financial Inc. now owns 784,707 shares of the semiconductor company’s stock valued at $143,410,000 after purchasing an additional 188,751 shares during the period. V Wealth Advisors LLC raised its position in Qorvo by 0.8% in the second quarter. V Wealth Advisors LLC now owns 8,886 shares of the semiconductor company’s stock valued at $1,743,000 after purchasing an additional 69 shares during the period. XTX Topco Ltd purchased a new stake in Qorvo in the first quarter valued at $393,000. Finally, Kestra Private Wealth Services LLC grew its stake in shares of Qorvo by 78.2% in the second quarter. Kestra Private Wealth Services LLC now owns 2,313 shares of the semiconductor company’s stock valued at $453,000 after buying an additional 1,015 shares in the last quarter. Institutional investors own 83.76% of the company’s stock.
Shares of QRVO traded down $0.24 during midday trading on Tuesday, reaching $182.13. 748,650 shares of the stock were exchanged, compared to its average volume of 1,117,452. Qorvo has a 52 week low of $123.08 and a 52 week high of $201.68. The company has a current ratio of 3.37, a quick ratio of 2.56 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $188.23 and its two-hundred day moving average is $184.69. The company has a market capitalization of $20.24 billion, a P/E ratio of 22.68, a PEG ratio of 1.26 and a beta of 1.36.
Qorvo, Inc engages in the provision of development and commercialization of technologies and products for wireless and wired connectivity. It operates through the following reportable segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment is involved in supplyingof cellular, UWB, and Wi-Fi solutions for applications, including smartphones, wearables, laptops, tablets, and Internet of things.
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