Qorvo, Inc. (NASDAQ:QRVO) Expected to Post Earnings of $3.25 Per Share

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.

A number of research firms have recently issued reports on QRVO. Westpark Capital began coverage on Qorvo in a research report on Thursday, July 15th. They set a “buy” rating and a $230.00 price target on the stock. Craig Hallum increased their price target on Qorvo from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. Argus began coverage on Qorvo in a research report on Thursday, July 1st. They set a “buy” rating and a $225.00 price target on the stock. Morgan Stanley increased their price target on Qorvo from $223.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, August 5th. Finally, BMO Capital Markets upped their price objective on Qorvo from $190.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, August 5th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $209.05.

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.

About Qorvo

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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Earnings History and Estimates for Qorvo (NASDAQ:QRVO)

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