Equities research analysts expect Qorvo, Inc. (NASDAQ:QRVO) to announce sales of $851.35 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Qorvo’s earnings, with estimates ranging from $830.10 million to $869.40 million. Qorvo reported sales of $864.70 million during the same quarter last year, which indicates a negative year over year growth rate of 1.5%. The firm is expected to report its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Qorvo will report full-year sales of $851.35 million for the current financial year, with estimates ranging from $3.07 billion to $3.28 billion. For the next year, analysts expect that the business will post sales of $3.45 billion per share, with estimates ranging from $3.28 billion to $3.55 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Qorvo.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The business had revenue of $640.80 million during the quarter, compared to analyst estimates of $632.18 million. During the same quarter in the previous year, the business earned $1.08 EPS. Qorvo’s quarterly revenue was down 8.3% compared to the same quarter last year.

A number of research firms recently weighed in on QRVO. Mizuho reaffirmed a “hold” rating and issued a $70.00 target price on shares of Qorvo in a research report on Friday. Drexel Hamilton reaffirmed a “buy” rating and issued a $95.00 target price on shares of Qorvo in a research report on Tuesday, August 1st. Canaccord Genuity raised their target price on shares of Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. TheStreet downgraded shares of Qorvo from a “b” rating to a “c” rating in a research report on Wednesday, August 2nd. Finally, MKM Partners reaffirmed a “buy” rating and issued a $90.00 target price (up previously from $78.00) on shares of Qorvo in a research report on Tuesday, May 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Qorvo currently has a consensus rating of “Hold” and a consensus price target of $72.74.

In other news, VP Steven E. Creviston sold 26,911 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $77.00, for a total transaction of $2,072,147.00. Following the completion of the sale, the vice president now owns 153,644 shares in the company, valued at approximately $11,830,588. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Steven E. Creviston sold 6,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $66.94, for a total transaction of $401,640.00. Following the sale, the vice president now owns 114,733 shares of the company’s stock, valued at approximately $7,680,227.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,986 shares of company stock valued at $9,863,763. 0.91% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in Qorvo by 49.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,664 shares of the semiconductor company’s stock worth $114,000 after buying an additional 552 shares in the last quarter. IFP Advisors Inc boosted its stake in Qorvo by 46.7% in the first quarter. IFP Advisors Inc now owns 2,105 shares of the semiconductor company’s stock worth $144,000 after buying an additional 670 shares in the last quarter. Federated Investors Inc. PA boosted its stake in Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after buying an additional 90 shares in the last quarter. NEXT Financial Group Inc boosted its stake in Qorvo by 2.1% in the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after buying an additional 49 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in Qorvo by 400.9% in the second quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock worth $177,000 after buying an additional 2,237 shares in the last quarter. Institutional investors own 97.39% of the company’s stock.

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Shares of Qorvo (QRVO) opened at 68.80 on Tuesday. The company has a 50 day moving average of $68.08 and a 200 day moving average of $68.64. The firm’s market cap is $8.73 billion. Qorvo has a 1-year low of $48.28 and a 1-year high of $79.34.

Qorvo Company Profile

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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