Those aiming for above-average market returns often engage in the meticulous process of stock picking. Choosing the right stocks can make a substantial difference in your wealth.
After finishing at $107.12 in the prior trading day, Qorvo Inc (NASDAQ: QRVO) closed at $107.98, up 0.80%. In other words, the price has increased by $0.80 from its previous closing price. On the day, 1.0 million shares were traded. QRVO stock price reached its highest trading level at $108.85 during the session, while it also had its lowest trading level at $107.145.
Ratios:
Our goal is to gain a better understanding of QRVO by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 9.73 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 18.37. For the most recent quarter (mrq), Quick Ratio is recorded 1.33 and its Current Ratio is at 1.90. In the meantime, Its Debt-to-Equity ratio is 0.56 whereas as Long-Term Debt/Eq ratio is at 0.43.
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, Craig Hallum on February 01, 2024, Reiterated its Buy rating but revised its target price to $125 from $110 previously.
On January 04, 2024, Piper Sandler Downgraded its rating to Neutral which previously was Overweight but kept the price unchanged to $120.
Morgan Stanley Upgraded its Equal-Weight to Overweight on December 08, 2023, whereas the target price for the stock was revised from $120 to $134.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 01 ’24 when CREVISTON STEVEN E sold 3,000 shares for $120.00 per share. The transaction valued at 360,000 led to the insider holds 77,552 shares of the business.
Chesley Philip sold 4,253 shares of QRVO for $484,842 on Feb 15 ’24. The SVP, High Performance Analog now owns 25,286 shares after completing the transaction at $114.00 per share. On Feb 15 ’24, another insider, FEGO PAUL J, who serves as the SVP, Global Operations of the company, sold 3,027 shares for $114.00 each. As a result, the insider received 345,078 and left with 29,705 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, QRVO now has a Market Capitalization of 10425307136 and an Enterprise Value of 11300685824. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.01 while its Price-to-Book (P/B) ratio in mrq is 2.87. Its current Enterprise Value per Revenue stands at 3.265 whereas that against EBITDA is 22.646.
Stock Price History:
Over the past 52 weeks, QRVO has reached a high of $121.65, while it has fallen to a 52-week low of $80.62. The 50-Day Moving Average of the stock is -4.93%, while the 200-Day Moving Average is calculated to be 4.18%.
Shares Statistics:
The stock has traded on average 1.26M shares per day over the past 3-months and 1141420 shares per day over the last 10 days, according to various share statistics. A total of 98.65M shares are outstanding, with a floating share count of 95.89M. Insiders hold about 0.68% of the company’s shares, while institutions hold 89.46% stake in the company. Shares short for QRVO as of 1711584000 were 2295232 with a Short Ratio of 1.82, compared to 1709164800 on 2136743. Therefore, it implies a Short% of Shares Outstanding of 2295232 and a Short% of Float of 2.7199999999999998.
