Qorvo Inc. (QRVO) Review – Making Smarter Decisions

Qorvo Inc. (NASDAQ: QRVO) is -3.63% lower on its value in year-to-date trading and has touched a low of $67.54 and a high of $122.37 in the current 52-week trading range. The QRVO stock was last observed hovering at around $112.01 in the recent trading session, with the current gains setting it 2.53% off its average median price target of $120.00 for the next 12 months. It is also 23.64% off the consensus price target high of $150.00 offered by analysts, but current levels are -14.54% lower than the price target low of $100.00 for the same period.

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At last check, trading at $114.54, the stock is 3.32% and 7.59% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.49 million and changing 2.26% at the moment leaves the stock 16.19% off its SMA200. QRVO registered 61.54% gain for a year compared to 6-month gain of 0.04%. The firm has a 50-day simple moving average (SMA 50) of $110.40 and a 200-day simple moving average (SMA200) of $100.71.

The stock witnessed a -2.49% loss in the last 1 month and extending the period to 3 months gives it a 34.77%, and is 1.55% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.26% over the week and 2.96% over the month.

Qorvo Inc. (QRVO) has around 7900 employees, a market worth around $12.94B and $3.24B in sales. Current P/E ratio is 39.85 and Fwd P/E is 15.88. Profit margin for the company is 10.30%. Distance from 52-week low is 69.59% and -6.39% from its 52-week high. The company has generated returns on investments over the last 12 months (4.60%).

Qorvo Inc. (QRVO) Analyst Forecasts

Qorvo Inc. quarterly earnings per share for the current quarter are estimated at $1.12 with sales reaching $730.17M over the same period.The EPS is expected to grow by 103.80% this year, but quarterly earnings will post -1.80% year-over-year.

Qorvo Inc. (QRVO) Top Institutional Holders

767 institutions hold shares in Qorvo Inc. (QRVO), with 538.1k shares held by insiders accounting for 0.47% while institutional investors hold 93.67% of the company’s shares. The shares outstanding are 115.72M, and float is at 113.84M with Short Float at 1.97%. Institutions hold 93.23% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 13.61 million shares valued at $1.1 billion. The investor’s holdings represent 11.89% of the QRVO Shares outstanding. As of Mar 30, 2020, the second largest holder is Vulcan Value Partners, LLC with 9.87 million shares valued at $795.72 million to account for 8.62% of the shares outstanding. The other top investors are Blackrock Inc. which holds 9.13 million shares representing 7.98% and valued at over $736.52 million, while State Street Corporation holds 4.45% of the shares totaling 5.09 million with a market value of $410.77 million.

Qorvo Inc. (QRVO) Insider Activity

A total of 56 insider transactions have happened at Qorvo Inc. (QRVO) in the last six months, with sales accounting for 44 and purchases happening 12 times. The most recent transaction is an insider sale by Klein James L, the company’s VP and Pres. Infra. & Defense. SEC filings show that Klein James L sold 1,440 shares of the company’s common stock on Jul 02 at a price of $109.15 per share for a total of $0.16 million. Following the sale, the insider now owns 48741.0 shares.

Qorvo Inc. disclosed in a document filed with the SEC on Jun 15 that Klein James L (VP and Pres. Infra. & Defense) sold a total of 1,440 shares of the company’s common stock. The trade occurred on Jun 15 and was made at $106.56 per share for $0.15 million. Following the transaction, the insider now directly holds 50181.0 shares of the QRVO stock.

Still, SEC filings show that on Jun 11, CREVISTON STEVEN E (VP and Pres. Mobile Products) disposed off 2,000 shares at an average price of $110.71 for $0.22 million. The insider now directly holds 67,018 shares of Qorvo Inc. (QRVO).

Qorvo Inc. (QRVO): Who are the competitors?

The company’s main competitors (and peers) include Skyworks Solutions Inc. (SWKS) that is trading 65.72% up over the past 12 months. Maxim Integrated Products Inc. (MXIM) is 4.47% up on the 1-year trading charts. Short interest in the company’s stock has fallen -37.5% from the last report on May 28, 2020 to stand at a total of 3.08 million short shares sold with a short interest ratio of 1.67.

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