Wall Street analysts expect that Qorvo Inc (NASDAQ:QRVO) will post sales of $656.56 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Qorvo’s earnings, with the highest sales estimate coming in at $660.00 million and the lowest estimate coming in at $654.70 million. Qorvo posted sales of $642.99 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The firm is expected to report its next earnings report on Wednesday, May 2nd.
On average, analysts expect that Qorvo will report full year sales of $656.56 million for the current year, with estimates ranging from $2.96 billion to $3.10 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.30 billion per share, with estimates ranging from $3.23 billion to $3.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Qorvo.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.60 by $0.09. The business had revenue of $845.70 million for the quarter, compared to analyst estimates of $841.09 million. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.35 earnings per share.
In other news, insider Robert A. Bruggeworth sold 5,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the sale, the insider now directly owns 185,344 shares of the company’s stock, valued at approximately $12,153,006.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $78.97, for a total transaction of $473,820.00. The disclosure for this sale can be found here. Insiders sold a total of 27,071 shares of company stock worth $1,919,080 over the last ninety days. Insiders own 0.91% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in Qorvo during the 3rd quarter valued at about $130,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Qorvo by 79.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 1,000 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in Qorvo during the 2nd quarter valued at about $188,000. Zeke Capital Advisors LLC purchased a new stake in Qorvo during the 3rd quarter valued at about $206,000. Finally, Wetherby Asset Management Inc. purchased a new stake in Qorvo during the 4th quarter valued at about $209,000. 96.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Qorvo (QRVO) traded up $1.35 during trading hours on Friday, reaching $81.48. 1,029,376 shares of the company traded hands, compared to its average volume of 2,680,000. The stock has a market capitalization of $10,310.00, a PE ratio of 84.00, a P/E/G ratio of 1.41 and a beta of 1.05. Qorvo has a 12 month low of $62.68 and a 12 month high of $85.24. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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