Somewhat Critical News Coverage Somewhat Unlikely to Affect Qorvo (QRVO) Share Price
Media coverage about Qorvo (NASDAQ:QRVO) has been trending somewhat negative on Tuesday, Accern reports. The research firm identifies positive and negative media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Qorvo earned a news sentiment score of 0.00 on Accern’s scale. Accern also gave media stories about the semiconductor company an impact score of 45.2880897035012 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news articles that may have effected Accern’s rankings:
- Qorvo Looks Vulnerable to Further Declines (finance.yahoo.com)
- Qorvo (QRVO) Cut to “Sell” at BidaskClub (americanbankingnews.com)
- Head-To-Head Analysis: Nanometrics (NANO) vs. Qorvo (QRVO) (americanbankingnews.com)
- Qorvo (QRVO) Stock Rating Lowered by ValuEngine (americanbankingnews.com)
- Gina Harrison Sells 1,000 Shares of Qorvo, Inc. (QRVO) Stock (americanbankingnews.com)
Qorvo (NASDAQ QRVO) traded down $0.93 during trading on Tuesday, hitting $67.69. 1,913,626 shares of the stock were exchanged, compared to its average volume of 1,510,773. The company has a market cap of $8,630.81, a P/E ratio of 16.97, a P/E/G ratio of 1.14 and a beta of 1.02. The company has a quick ratio of 2.71, a current ratio of 3.80 and a debt-to-equity ratio of 0.20. Qorvo has a fifty-two week low of $52.05 and a fifty-two week high of $81.20.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.52. The business had revenue of $821.60 million for the quarter, compared to the consensus estimate of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. Qorvo’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. equities research analysts anticipate that Qorvo will post 4.74 EPS for the current year.
A number of research firms have issued reports on QRVO. ValuEngine downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Saturday. BidaskClub downgraded shares of Qorvo from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th. J P Morgan Chase & Co set a $88.00 target price on shares of Qorvo and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Citigroup increased their target price on shares of Qorvo from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Canaccord Genuity increased their target price on shares of Qorvo from $81.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. Qorvo presently has a consensus rating of “Hold” and a consensus price target of $76.74.
In related news, VP James L. Klein sold 2,600 shares of Qorvo stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $70.84, for a total value of $184,184.00. Following the transaction, the vice president now owns 42,993 shares in the company, valued at approximately $3,045,624.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roderick Nelson sold 860 shares of Qorvo stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $69.03, for a total transaction of $59,365.80. Following the completion of the transaction, the director now owns 3,762 shares in the company, valued at approximately $259,690.86. The disclosure for this sale can be found here. Insiders sold a total of 60,696 shares of company stock worth $4,605,411 in the last quarter. Insiders own 0.91% of the company’s stock.
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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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