Qorvo (NASDAQ:QRVO) is set to issue its quarterly earnings data after the market closes on Wednesday, August 4th. Analysts expect the company to announce earnings of $2.23 per share for the quarter. Qorvo has set its Q1 2022 guidance at 2.450-2.450 EPS and its Q1 guidance at approx $2.45 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, May 5th. The semiconductor company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.51. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Qorvo had a net margin of 18.27% and a return on equity of 23.45%. On average, analysts expect Qorvo to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.
Shares of QRVO stock opened at $187.15 on Wednesday. The company has a fifty day moving average price of $185.84. The company has a current ratio of 3.64, a quick ratio of 2.90 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $20.82 billion, a PE ratio of 29.47, a P/E/G ratio of 1.74 and a beta of 1.40. Qorvo has a one year low of $112.03 and a one year high of $201.68.
A number of analysts have recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Qorvo from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, May 6th. Mizuho raised their target price on shares of Qorvo from $183.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, April 9th. Craig Hallum raised their price target on shares of Qorvo from $195.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, May 6th. Piper Sandler raised their price target on shares of Qorvo from $190.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 23rd. Finally, Wells Fargo & Company raised their target price on shares of Qorvo from $205.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, May 6th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $200.86.
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In other news, CEO Robert A. Bruggeworth sold 788 shares of Qorvo stock in a transaction on Monday, May 17th. The shares were sold at an average price of $168.78, for a total value of $132,998.64. Following the completion of the sale, the chief executive officer now owns 193,761 shares in the company, valued at approximately $32,702,981.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James L. Klein sold 1,910 shares of Qorvo stock in a transaction on Monday, May 17th. The shares were sold at an average price of $168.78, for a total transaction of $322,369.80. Following the completion of the sale, the vice president now owns 50,150 shares of the company’s stock, valued at approximately $8,464,317. The disclosure for this sale can be found here. Insiders sold a total of 27,948 shares of company stock worth $4,865,933 in the last 90 days. Corporate insiders own 0.52% of the company’s stock.
Qorvo Company Profile
Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.
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7 Stocks to Watch When Student Debt Forgiveness Gets Passed
Now that the Biden administration is fully in charge, student debt forgiveness has moved to the front burner. Consider these numbers. There is an estimated $1.7 trillion in student debt. The average student carries approximately $30,000 in student loans.
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