Analysts forecast that Qorvo Inc (NASDAQ:QRVO) will report sales of $790.08 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Qorvo’s earnings. The highest sales estimate is $791.30 million and the lowest is $789.16 million. Qorvo reported sales of $692.67 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.1%. The business is scheduled to report its next earnings report on Wednesday, August 7th.

On average, analysts expect that Qorvo will report full-year sales of $3.21 billion for the current year, with estimates ranging from $3.20 billion to $3.22 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.39 billion, with estimates ranging from $3.29 billion to $3.45 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Qorvo.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.23. The business had revenue of $680.88 million during the quarter, compared to the consensus estimate of $670.59 million. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. Qorvo’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share.

A number of research analysts recently commented on QRVO shares. Craig Hallum reaffirmed a “buy” rating and issued a $85.00 price target (up previously from $72.00) on shares of Qorvo in a research note on Wednesday, May 8th. BidaskClub downgraded Qorvo from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Goldman Sachs Group raised Qorvo from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $79.00 in a research note on Thursday, March 21st. Piper Jaffray Companies reissued an “overweight” rating and set a $75.00 target price on shares of Qorvo in a research note on Friday, February 8th. Finally, Zacks Investment Research raised Qorvo from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Thirteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $76.73.

In other news, VP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $68.87, for a total transaction of $206,610.00. Following the sale, the vice president now directly owns 55,006 shares in the company, valued at $3,788,263.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gina Harrison sold 1,016 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $70.00, for a total value of $71,120.00. Following the sale, the vice president now owns 15,988 shares in the company, valued at $1,119,160. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 246,024 shares of company stock worth $17,108,361. Company insiders own 0.85% of the company’s stock.

Several large investors have recently added to or reduced their stakes in QRVO. Oregon Public Employees Retirement Fund grew its holdings in shares of Qorvo by 8,987.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,660,561 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 3,620,278 shares during the last quarter. Norges Bank bought a new stake in Qorvo in the fourth quarter valued at approximately $91,781,000. Neuberger Berman Group LLC bought a new stake in Qorvo in the first quarter valued at approximately $54,992,000. Thompson Siegel & Walmsley LLC bought a new stake in Qorvo in the first quarter valued at approximately $43,431,000. Finally, Boston Partners boosted its holdings in Qorvo by 6.5% in the first quarter. Boston Partners now owns 3,916,687 shares of the semiconductor company’s stock valued at $280,944,000 after acquiring an additional 238,370 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

QRVO stock traded up $0.27 during midday trading on Friday, reaching $61.54. The company had a trading volume of 4,042,966 shares, compared to its average volume of 1,417,674. The company has a market cap of $7.52 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. Qorvo has a 1-year low of $54.74 and a 1-year high of $86.50. The company has a quick ratio of 2.69, a current ratio of 3.87 and a debt-to-equity ratio of 0.21.

Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Earnings History and Estimates for Qorvo (NASDAQ:QRVO)

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