Qorvo (NASDAQ:QRVO – Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce 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.Investors interested in participating in the company’s conference call can do so using this link.
Qorvo (NASDAQ:QRVO – Get Free Report) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. On average, analysts expect Qorvo to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.
Qorvo Stock Up 1.8 %
Qorvo stock opened at $118.83 on Tuesday. The company’s 50 day simple moving average is $113.61 and its 200 day simple moving average is $105.23. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of -55.27, a PEG ratio of 0.90 and a beta of 1.56. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33.
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Analyst Ratings Changes
Several equities analysts have recently weighed in on QRVO shares. Susquehanna reiterated a “neutral” rating and set a $100.00 price objective on shares of Qorvo in a report on Monday, April 8th. JPMorgan Chase & Co. raised their target price on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Barclays raised their price target on shares of Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Rosenblatt Securities increased their target price on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $125.00 price objective on shares of Qorvo in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Qorvo currently has a consensus rating of “Hold” and a consensus target price of $111.53.
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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.
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