Wall Street analysts expect Qorvo Inc (NASDAQ:QRVO) to announce earnings of $1.10 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Qorvo’s earnings, with the highest EPS estimate coming in at $1.47 and the lowest estimate coming in at $1.04. Qorvo reported earnings per share of $0.85 during the same quarter last year, which suggests a positive year over year growth rate of 29.4%. The company is scheduled to report its next earnings report on Wednesday, May 2nd.

On average, analysts expect that Qorvo will report full year earnings of $5.16 per share for the current financial year, with EPS estimates ranging from $5.11 to $5.45. For the next fiscal year, analysts anticipate that the firm will report earnings of $6.38 per share, with EPS estimates ranging from $5.88 to $6.84. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Qorvo.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The company had revenue of $845.70 million during the quarter, compared to the consensus estimate of $841.09 million. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis.

A number of research firms have weighed in on QRVO. Nomura raised shares of Qorvo from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $85.00 in a report on Thursday, February 1st. Barclays raised their price objective on shares of Qorvo from $75.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Morgan Stanley raised their price objective on shares of Qorvo from $70.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. BMO Capital Markets raised their price objective on shares of Qorvo from $63.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. Finally, Canaccord Genuity raised their price objective on shares of Qorvo from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $80.42.

Shares of Qorvo (NASDAQ QRVO) traded up $1.00 during trading on Friday, reaching $77.85. 3,361,767 shares of the company were exchanged, compared to its average volume of 2,530,000. Qorvo has a one year low of $62.68 and a one year high of $85.24. The company has a quick ratio of 3.62, a current ratio of 4.72 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $9,850.00, a P/E ratio of 370.71, a P/E/G ratio of 1.37 and a beta of 1.05.

In related news, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction on Friday, December 15th. The shares were sold at an average price of $65.50, for a total value of $393,000.00. Following the transaction, the vice president now directly owns 88,725 shares in the company, valued at approximately $5,811,487.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert A. Bruggeworth sold 5,000 shares of Qorvo stock in a transaction on Friday, December 15th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the transaction, the insider now owns 185,344 shares in the company, valued at $12,153,006.08. The disclosure for this sale can be found here. Insiders sold a total of 50,496 shares of company stock worth $3,766,549 over the last ninety days. Corporate insiders own 0.91% of the company’s stock.

A number of large investors have recently bought and sold shares of QRVO. Alyeska Investment Group L.P. purchased a new position in Qorvo in the 3rd quarter valued at $118,506,000. Boston Partners grew its position in Qorvo by 47.5% in the 4th quarter. Boston Partners now owns 2,869,210 shares of the semiconductor company’s stock valued at $191,089,000 after buying an additional 924,017 shares during the last quarter. Manning & Napier Advisors LLC grew its position in Qorvo by 52.5% in the 3rd quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock valued at $172,674,000 after buying an additional 840,755 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Qorvo in the 2nd quarter valued at $18,990,000. Finally, Cornerstone Capital Management Holdings LLC. grew its position in Qorvo by 113.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 374,721 shares of the semiconductor company’s stock valued at $26,484,000 after buying an additional 198,856 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

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About Qorvo

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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