How is Qorvo Inc.’s (NASDAQ: QRVO) stock expected to perform amid current market woes?

The price of Qorvo Inc. (NASDAQ: QRVO) closed at $108.11 in the last session, down -1.21% from day before closing price of $109.43. In other words, the price has decreased by -$1.32 from its previous closing price. On the day, 1167596 shares were traded. QRVO stock price reached its highest trading level at $110.37 during the session, while it also had its lowest trading level at $107.53.

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We take a closer look at QRVO’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 11.60 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 13.03. For the most recent quarter (mrq), Quick Ratio is recorded 2.20 and its Current Ratio is at 3.30. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.47.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Credit Suisse on November 16, 2022, initiated with a Outperform rating and assigned the stock a target price of $120.

On November 03, 2022, JP Morgan Downgraded its rating to Underweight which previously was Overweight and also lowered its target price recommendation from $125 to $90.

Barclays Downgraded its Overweight to Equal Weight on October 24, 2022, whereas the target price for the stock was revised from $120 to $90.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Dec 13 when Harrison Gina sold 3,559 shares for $104.00 per share. The transaction valued at 370,136 led to the insider holds 16,257 shares of the business.

FEGO PAUL J sold 2,505 shares of QRVO for $246,317 on Nov 15. The SVP, Global Operations now owns 29,161 shares after completing the transaction at $98.33 per share. On Sep 15, another insider, FEGO PAUL J, who serves as the VP, Global Operations of the company, sold 2,413 shares for $85.42 each. As a result, the insider received 206,118 and left with 31,666 shares of the company.

Valuation Measures:

As of this moment, Qorvo’s Price-to-Earnings (P/E) ratio for their current fiscal year is 16.97, and their Forward P/E ratio for the next fiscal year is 16.19. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.36 while its Price-to-Book (P/B) ratio in mrq is 2.57.

Stock Price History:

Over the past 52 weeks, QRVO has reached a high of $144.31, while it has fallen to a 52-week low of $75.38. The 50-Day Moving Average of the stock is 95.78, while the 200-Day Moving Average is calculated to be 97.85.

Shares Statistics:

According to the various share statistics, QRVO traded on average about 1.26M shares per day over the past 3-months and 1.18M shares per day over the past 10 days. A total of 102.93M shares are outstanding, with a floating share count of 100.85M. Insiders hold about 0.50% of the company’s shares, while institutions hold 89.40% stake in the company. Shares short for QRVO as of Oct 13, 2022 were 3.24M with a Short Ratio of 2.58M, compared to 2.57M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 3.14% and a Short% of Float of 3.57%.

Earnings Estimates

The company has 22 analysts who recommend its stock at the moment. On average, analysts expect EPS of $2.57 for the current quarter, with a high estimate of $3.26 and a low estimate of $2.36, while EPS last year was $3.42. The consensus estimate for the next quarter is $1.69, with high estimates of $1.99 and low estimates of $1.

Analysts are recommending an EPS of between $9.65 and $6.5 for the fiscal current year, implying an average EPS of $8.03. EPS for the following year is $9.83, with 27 analysts recommending between $12.09 and $7.76.

Revenue Estimates

A total of 26 analysts have provided revenue estimates for QRVO’s current fiscal year. The highest revenue estimate was $4.2B, while the lowest revenue estimate was $3.94B, resulting in an average revenue estimate of $4.12B. In the same quarter a year ago, actual revenue was $4.65B, down -11.40% from the average estimate. Based on 25 analysts’ estimates, the company’s revenue will be $4.49B in the next fiscal year. The high estimate is $4.88B and the low estimate is $4.14B. The average revenue growth estimate for next year is up 9.10% from the average revenue estimate for this year.