The stock of Qorvo Inc (NASDAQ:QRVO) is a huge mover today! The stock decreased 2.85% or $1.59 during the last trading session, hitting $54.15. About 1.41M shares traded hands. Qorvo Inc (NASDAQ:QRVO) has risen 14.34% since March 1, 2016 and is uptrending. It has outperformed by 2.12% the S&P500.
The move comes after 7 months negative chart setup for the $7.19B company. It was reported on Oct, 4 by Barchart.com. We have $49.82 PT which if reached, will make NASDAQ:QRVO worth $575.20M less.
Analysts await Qorvo Inc (NASDAQ:QRVO) to report earnings on November, 3. They expect $1.19 earnings per share, up 21.43% or $0.21 from last year’s $0.98 per share. QRVO’s profit will be $158.01 million for 11.38 P/E if the $1.19 EPS becomes a reality. After $0.85 actual earnings per share 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. Morgan Stanley initiated it with “Equal-Weight” rating and $56 target price in Monday, June 27 report. The rating was initiated by Citigroup with “Neutral” on Thursday, October 1. As per Friday, January 8, the company rating was maintained by Canaccord Genuity. As per Thursday, July 30, the company rating was maintained by Canaccord Genuity. The firm has “Underperform” rating by CLSA given on Wednesday, May 25. The stock has “Outperform” rating given by Raymond James on Tuesday, April 19. The rating was maintained by Craig Hallum on Friday, January 8 with “Buy”. The firm has “Buy” rating given on Thursday, July 30 by Ascendiant Capital Markets. Barclays Capital maintained the stock with “Equalweight” rating in Monday, March 28 report. The firm has “Buy” rating given on Friday, November 6 by Brean Capital.
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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