The closing price of Qorvo Inc (NASDAQ: QRVO) was $110.80 for the day, down -0.43% from the previous closing price of $111.28. In other words, the price has decreased by -$0.48 from its previous closing price. On the day, 1313872 shares were traded.
Ratios:
Our analysis of QRVO’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 9.98 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 18.84. 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:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. 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 10.74B and an Enterprise Value of 11.70B. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.09 while its Price-to-Book (P/B) ratio in mrq is 2.94. Its current Enterprise Value per Revenue stands at 3.38 whereas that against EBITDA is 49.25.
Stock Price History:
The Beta on a monthly basis for QRVO is 1.56, which has changed by 11.39% over the last 52 weeks, in comparison to a change of 31.54% over the same period for the S&P500. 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 110.00, while the 200-Day Moving Average is calculated to be 102.21.
Shares Statistics:
QRVO traded an average of 1.33M shares per day over the past three months and 1.38M shares per day over the past ten days. 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 89.78% stake in the company. Shares short for QRVO as of Feb 29, 2024 were 2.14M with a Short Ratio of 1.61, compared to 2.11M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 2.21% and a Short% of Float of 2.53%.
Earnings Estimates
The firm’s stock currently is rated by 22 analysts. On average, analysts expect EPS of $1.21 for the current quarter, with a high estimate of $1.43 and a low estimate of $1.17, while EPS last year was $0.26. The consensus estimate for the next quarter is $1.27, with high estimates of $1.57 and low estimates of $0.91.
Analysts are recommending an EPS of between $6.26 and $4.89 for the fiscal current year, implying an average EPS of $5.99. EPS for the following year is $7.62, with 25 analysts recommending between $8.88 and $6.47.
Revenue Estimates
It is expected that $90B in revenue will be generated in the current quarter, according to 21 analysts. It ranges from a high estimate of $941.39M to a low estimate of $924.98M. As of the current estimate, Qorvo Inc’s year-ago sales were $632.7M, an estimated increase of 46.40% from the year-ago figure.
A total of 24 analysts have provided revenue estimates for QRVO’s current fiscal year. The highest revenue estimate was $3.77B, while the lowest revenue estimate was $3.75B, resulting in an average revenue estimate of $3.76B. In the same quarter a year ago, actual revenue was $3.57B, up 5.20% from the average estimate. Based on 24 analysts’ estimates, the company’s revenue will be $4.13B in the next fiscal year. The high estimate is $4.38B and the low estimate is $3.9B. The average revenue growth estimate for next year is up 10.10% from the average revenue estimate for this year.
