998 institutions hold shares in Qorvo Inc. (QRVO), with 455.32k shares held by insiders accounting for 0.40% while institutional investors hold 87.23% of the company’s shares. The shares outstanding are 113.81M, and float is at 112.78M with Short Float at 2.58%. Institutions hold 86.88% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 12.34 million shares valued at $2.05 billion. The investor’s holdings represent 10.89% of the QRVO Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 9.06 million shares valued at $1.51 billion to account for 8.00% of the shares outstanding. The other top investors are State Street Corporation which holds 4.96 million shares representing 4.38% and valued at over $824.88 million, while Vulcan Value Partners, LLC holds 4.08% of the shares totaling 4.63 million with a market value of $769.01 million.
Qorvo Inc. (NASDAQ: QRVO) is 20.01% higher on its value in year-to-date trading and has touched a low of $91.75 and a high of $201.50 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The QRVO stock was last observed hovering at around $197.05 in the last trading session, with the day’s gains setting it 2.49% off its average median price target of $200.00 for the next 12 months. It is also 11.32% off the consensus price target high of $225.00 offered by 23 analysts, but current levels are -20.93% lower than the price target low of $165.00 for the same period.
Currently trading at $199.54, the stock is 3.80% and 9.71% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.86 million and changing 1.26% at the moment leaves the stock 29.43% off its SMA200. QRVO registered 100.76% gain for a year compared to 6-month gain of 52.00%. The firm has a 50-day simple moving average (SMA 50) of $186.31 and a 200-day simple moving average (SMA200) of $166.80.
The stock witnessed a 12.33% loss in the last 1 month and extending the period to 3 months gives it a 17.51%, and is 6.68% 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 2.80% over the week and 2.87% over the month.
Qorvo Inc. (QRVO) has around 7900 employees, a market worth around $21.80B and $3.73B in sales. Current P/E ratio is 47.82 and Fwd P/E is 19.24. Profit margin for the company is 13.00%. Distance from 52-week low is 117.48% and -0.97% from its 52-week high. The company has generated returns on investments over the last 12 months (4.60%).
Qorvo Inc. (QRVO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Qorvo Inc. (QRVO) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.20, where 7 rate it as a Hold and 1 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Qorvo Inc. is expected to release its quarterly report on 08/04/2021 and quarterly earnings per share for the current quarter are estimated at $2.43 with sales reaching $1.04B over the same period.The EPS is expected to grow by 207.40% this year, but quarterly earnings will post 23.20% year-over-year. Quarterly sales are estimated to grow 32.10% in year-over-year returns.
Qorvo Inc. (QRVO) Insider Activity
A total of 22 insider transactions have happened at Qorvo Inc. (QRVO) in the last six months, with sales accounting for 18 and purchases happening 4 times. The most recent transaction is an insider sale by Harrison Gina, the company’s VP and Corporate Controller. SEC filings show that Harrison Gina sold 1,113 shares of the company’s common stock on Mar 08 at a price of $171.20 per share for a total of $0.19 million. Following the sale, the insider now owns 14237.0 shares.
Qorvo Inc. disclosed in a document filed with the SEC on Mar 02 that QUINSEY RALPH (Director) sold a total of 67,304 shares of the company’s common stock. The trade occurred on Mar 02 and was made at $179.52 per share for $12.08 million. Following the transaction, the insider now directly holds 57700.0 shares of the QRVO stock.
Still, SEC filings show that on Mar 01, QUINSEY RALPH (Director) disposed off 97,625 shares at an average price of $179.63 for $17.54 million. The insider now directly holds 57,700 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 86.27% up over the past 12 months. Maxim Integrated Products Inc. (MXIM) is 69.12% up on the 1-year trading charts. Short interest in the company’s stock has risen 4.9% from the last report on Apr 14, 2021 to stand at a total of 2.91 million short shares sold with a short interest ratio of 2.85.