The stock of Qorvo Inc (NASDAQ:QRVO) is a huge mover today! The stock increased 3.84% or $2.06 during the last trading session, hitting $55.74. About 2.22 million shares traded hands or 32.93% up from the average. Qorvo Inc (NASDAQ:QRVO) has risen 23.52% since February 26, 2016 and is uptrending. It has outperformed by 13.09% the S&P500.
The move comes after 8 months positive chart setup for the $7.01 billion company. It was reported on Oct, 1 by Barchart.com. We have $82.50 PT which if reached, will make NASDAQ:QRVO worth $3.36 billion more.
Analysts await Qorvo Inc (NASDAQ:QRVO) to report earnings on November, 3. They expect $1.19 EPS, up 21.43% or $0.21 from last year’s $0.98 per share. QRVO’s profit will be $149.66 million for 11.71 P/E if the $1.19 EPS becomes a reality. After $0.85 actual EPS reported by Qorvo Inc for the previous quarter, Wall Street now forecasts 40.00% EPS growth.
Qorvo Inc (NASDAQ:QRVO) Ratings Coverage
Out of 22 analysts covering Qorvo Inc (NASDAQ:QRVO), 14 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 64% are positive. Qorvo Inc has been the topic of 48 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Monday, September 21 the stock rating was maintained by Brean Capital with “Buy”. On Friday, January 8 the stock rating was maintained by Craig Hallum with “Buy”. Mizuho maintained the shares of QRVO in a report on Friday, January 8 with “Buy” rating. The firm earned “Buy” rating on Thursday, July 30 by Canaccord Genuity. As per Monday, June 27, the company rating was initiated by Morgan Stanley. The firm earned “Buy” rating on Thursday, September 24 by Needham. Barclays Capital maintained Qorvo Inc (NASDAQ:QRVO) on Monday, March 28 with “Equalweight” rating. The stock has “Buy” rating given by Ascendiant Capital Markets on Thursday, July 30. The stock has “Neutral” rating given by Citigroup on Thursday, October 1. The stock of Qorvo Inc (NASDAQ:QRVO) earned “Mkt Perform” rating by JMP Securities on Wednesday, November 18.
According to Zacks Investment Research, “Qorvo, Inc. is a provider of technologies and RF solutions for mobile, infrastructure and aerospace/defence applications. The Company operates through two subsidiaries: RF Micro Devices, Inc. (RFMD) and TriQuint Semiconductor, Inc. (TriQuint). RFMD designs and manufactures radio frequency solutions. TriQuint designs, develops and manufactures active and passive technologies, including power amplifier, switch and filter modules for the mobile device, network infrastructure, and defence and aerospace markets. Its products are used for wireless communications applications such as cellular and PCS, cordless telephony, wireless LANs, industrial radios, wireless security and remote meter reading. Qorvo, Inc.is based in United States.”
QRVO Company Profile
Qorvo, Inc., incorporated on December 13, 2013, is a well-known provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Firm designs, develops, makes and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs). The Company’s divisions include Mobile Products (MP) and Infrastructure and Defense Products (IDP). The Firm operates design, sales and manufacturing facilities located throughout Asia, Europe and North America. The Company’s primary manufacturing facilities are located in North Carolina, Oregon, Texas and Florida, and its primary assembly and test facilities are located in China, Costa Rica and Texas.
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