Qorvo (QRVO) Scheduled to Post Quarterly Earnings on Wednesday

Qorvo (NASDAQ:QRVO) is scheduled to be releasing its earnings data 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.Persons interested in participating in the company’s earnings conference call can do so using this link.

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

Shares of Qorvo stock opened at $107.98 on Wednesday. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of -50.22, a PEG ratio of 0.82 and a beta of 1.56. The firm’s 50-day moving average is $113.60 and its 200 day moving average is $104.70. Qorvo has a 1 year low of $80.62 and a 1 year 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.

Insiders Place Their Bets

In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock worth $745,434 in the last three months. 0.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on QRVO. Susquehanna restated a “neutral” rating and set a $100.00 target price on shares of Qorvo in a research note on Monday, April 8th. Raymond James upped their target price on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Craig Hallum upped their target price on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upped their target price on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Finally, The Goldman Sachs Group upped their price target on shares of Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $111.53.

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.