Brokerages predict that Qorvo Inc (NASDAQ:QRVO) will announce $740.28 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Qorvo’s earnings. The highest sales estimate is $741.20 million and the lowest is $740.00 million. Qorvo reported sales of $692.67 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.9%. The firm is scheduled to report its next earnings report after the market closes on Thursday, August 1st.

On average, analysts expect that Qorvo will report full year sales of $2.89 billion for the current fiscal year, with estimates ranging from $2.79 billion to $2.94 billion. For the next year, analysts anticipate that the business will post sales of $3.12 billion, with estimates ranging from $2.93 billion to $3.32 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Qorvo.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.23. The firm had revenue of $680.88 million during the quarter, compared to analyst estimates of $670.59 million. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $1.07 EPS.

QRVO has been the subject of several research reports. Raymond James set a $31.00 price objective on Mylan and gave the stock a “buy” rating in a research note on Wednesday, May 8th. DA Davidson lowered Avon Products from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $4.75 to $3.60 in a research note on Thursday, May 23rd. Canaccord Genuity reissued a “hold” rating and set a GBX 860 ($11.24) price objective on shares of Galliford Try in a research note on Tuesday, May 21st. Mizuho reduced their price objective on Qorvo from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Finally, Zacks Investment Research raised Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $75.52.

In related news, insider Robert A. Bruggeworth sold 25,831 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $72.52, for a total transaction of $1,873,264.12. Following the completion of the sale, the insider now directly owns 201,794 shares in the company, valued at $14,634,100.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James L. Klein sold 1,914 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $72.00, for a total value of $137,808.00. Following the sale, the vice president now owns 53,859 shares of the company’s stock, valued at $3,877,848. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,573 shares of company stock valued at $2,488,757. 0.71% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Boston Partners raised its holdings in shares of Qorvo by 6.5% during the first quarter. Boston Partners now owns 3,916,687 shares of the semiconductor company’s stock worth $280,944,000 after acquiring an additional 238,370 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Qorvo by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 1,764,706 shares of the semiconductor company’s stock worth $106,998,000 after acquiring an additional 122,684 shares in the last quarter. FMR LLC raised its holdings in shares of Qorvo by 15.5% during the first quarter. FMR LLC now owns 1,590,816 shares of the semiconductor company’s stock worth $114,110,000 after acquiring an additional 213,091 shares in the last quarter. Norges Bank purchased a new stake in shares of Qorvo during the fourth quarter worth $91,781,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Qorvo by 13.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,441,062 shares of the semiconductor company’s stock worth $87,523,000 after acquiring an additional 175,203 shares in the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.

Shares of QRVO traded up $0.19 during trading hours on Thursday, hitting $74.92. 859,457 shares of the company were exchanged, compared to its average volume of 1,064,122. The company has a market capitalization of $8.84 billion, a P/E ratio of 14.27, a PEG ratio of 2.29 and a beta of 1.08. The company has a quick ratio of 2.69, a current ratio of 3.87 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $67.69. Qorvo has a one year low of $54.74 and a one year high of $86.50.

Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Earnings History and Estimates for Qorvo (NASDAQ:QRVO)

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