Qorvo, Inc. (QRVO) to Release Earnings on Wednesday
Qorvo, Inc. (NASDAQ:QRVO) will post its quarterly earnings results after the market closes on Wednesday, November 1st. Analysts expect Qorvo to post earnings of $1.52 per share for the quarter. Qorvo has set its Q2 guidance at $1.36-1.50 EPS.
Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. The firm had revenue of $640.80 million for the quarter, compared to analysts’ expectations of $632.18 million. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The firm’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. On average, analysts expect Qorvo to post $4.83 EPS for the current fiscal year and $5.87 EPS for the next fiscal year.
Qorvo, Inc. (NASDAQ:QRVO) opened at 71.44 on Wednesday. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34. The firm has a 50-day moving average of $71.86 and a 200 day moving average of $70.82. The stock’s market capitalization is $9.09 billion.
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In related news, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $71.34, for a total transaction of $428,040.00. Following the completion of the transaction, the vice president now directly owns 120,110 shares in the company, valued at approximately $8,568,647.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Gina Harrison sold 5,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $73.41, for a total value of $367,050.00. Following the transaction, the vice president now owns 17,230 shares of the company’s stock, valued at $1,264,854.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,080 shares of company stock worth $4,788,693. Corporate insiders own 0.91% of the company’s stock.
A number of equities analysts have issued reports on the company. BidaskClub raised Qorvo from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. KeyCorp reaffirmed a “hold” rating on shares of Qorvo in a research report on Wednesday, October 11th. Craig Hallum reaffirmed a “buy” rating on shares of Qorvo in a research report on Wednesday, September 13th. Canaccord Genuity upped their target price on Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, TheStreet lowered Qorvo from a “b” rating to a “c” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $73.45.
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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