$840.55 Million in Sales Expected for Qorvo, Inc. (QRVO) This Quarter
Analysts forecast that Qorvo, Inc. (NASDAQ:QRVO) will post $840.55 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Qorvo’s earnings, with the highest sales estimate coming in at $842.60 million and the lowest estimate coming in at $840.00 million. Qorvo posted sales of $826.35 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The company is scheduled to report its next earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Qorvo will report full year sales of $840.55 million for the current year, with estimates ranging from $3.08 billion to $3.12 billion. For the next year, analysts expect that the company will report sales of $3.37 billion per share, with estimates ranging from $3.23 billion to $3.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Qorvo.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The firm had revenue of $821.60 million during the quarter, compared to the consensus estimate of $810.47 million. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was down 5.0% on a year-over-year basis.
Qorvo (QRVO) traded up $2.28 during trading on Wednesday, hitting $68.88. 1,345,800 shares of the stock traded hands, compared to its average volume of 1,030,250. The company has a quick ratio of 2.71, a current ratio of 3.80 and a debt-to-equity ratio of 0.20. Qorvo has a 1 year low of $52.12 and a 1 year high of $81.20. The company has a market capitalization of $8,710.00 and a P/E ratio of -492.00.
In other news, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $72.27, for a total transaction of $433,620.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Walter H. Wilkinson sold 15,925 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the sale, the director now directly owns 62,480 shares in the company, valued at $4,999,649.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,096 shares of company stock worth $4,335,007. Insiders own 0.91% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Qorvo by 0.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock valued at $598,000 after buying an additional 62 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of Qorvo by 4.0% during the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 90 shares during the last quarter. Sentry Investment Management LLC grew its holdings in shares of Qorvo by 1.4% during the second quarter. Sentry Investment Management LLC now owns 6,648 shares of the semiconductor company’s stock valued at $421,000 after buying an additional 95 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Qorvo by 1.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,526 shares of the semiconductor company’s stock valued at $477,000 after buying an additional 111 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Qorvo by 5.1% during the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 126 shares during the last quarter. 96.72% of the stock is currently owned by hedge funds and other institutional investors.
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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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