Qorvo Inc (QRVO)’s Market Momentum: Closing Strong at 97.69, Up 0.69

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As of close of business last night, Qorvo Inc’s stock clocked out at $97.69, up 0.69% from its previous closing price of $97.02. In other words, the price has increased by $0.69 from its previous closing price. On the day, 0.82 million shares were traded. QRVO stock price reached its highest trading level at $97.91 during the session, while it also had its lowest trading level at $96.69.

Ratios:

To gain a deeper understanding of QRVO’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 9.16 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 16.62. For the most recent quarter (mrq), Quick Ratio is recorded 1.41 and its Current Ratio is at 1.99. In the meantime, Its Debt-to-Equity ratio is 0.56 whereas as Long-Term Debt/Eq ratio is at 0.44.

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:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on May 08 ’24 when HARDING JOHN R sold 941 shares for $97.36 per share. The transaction valued at 91,616 led to the insider holds 6,950 shares of the business.

CREVISTON STEVEN E sold 3,000 shares of QRVO for $360,000 on Mar 01 ’24. The SVP, Connectivity & Sensors now owns 77,552 shares after completing the transaction at $120.00 per share. On Feb 15 ’24, another insider, Chesley Philip, who serves as the SVP, High Performance Analog of the company, sold 4,253 shares for $114.00 each. As a result, the insider received 484,842 and left with 25,286 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 9431822336 and an Enterprise Value of 10467409920. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.50 while its Price-to-Book (P/B) ratio in mrq is 2.60. Its current Enterprise Value per Revenue stands at 2.777 whereas that against EBITDA is 25.495.

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 -12.61%, while the 200-Day Moving Average is calculated to be -5.78%.

Shares Statistics:

It appears that QRVO traded 1.26M shares on average per day over the past three months and 2053160 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 91.59% stake in the company. Shares short for QRVO as of 1714435200 were 2314592 with a Short Ratio of 1.83, compared to 1711584000 on 2295232. Therefore, it implies a Short% of Shares Outstanding of 2314592 and a Short% of Float of 2.75.

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