Qorvo Inc. (NASDAQ: QRVO) is -45.99% lower on its value in year-to-date trading and has touched a low of $83.90 and a high of $178.50 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The QRVO stock was last observed hovering at around $85.82 in the last trading session, with the day’s loss setting it -1.35% off its average median price target of $115.00 for the next 12 months. It is also 44.43% off the consensus price target high of $152.00 offered by 26 analysts, but current levels are 6.14% higher than the price target low of $90.00 for the same period.
Currently trading at $84.47, the stock is -7.35% and -14.64% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.05 million and changing -1.57% at the moment leaves the stock -28.68% off its SMA200. QRVO registered -50.65% loss for a year compared to 6-month loss of -35.04%. The firm has a 50-day simple moving average (SMA 50) of $2.20 and a 200-day simple moving average (SMA200) of $7.26.
The stock witnessed a -15.06% gain in the last 1 month and extending the period to 3 months gives it a -11.32%, and is -1.71% down 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 3.56% over the week and 3.43% over the month.
Qorvo Inc. (QRVO) has around 8900 employees, a market worth around $8.67B and $4.57B in sales. Current P/E ratio is 11.43 and Fwd P/E is 8.23. Profit margin for the company is 17.90%. Distance from 52-week low is 0.68% and -52.68% from its 52-week high. The company has generated returns on investments over the last 12 months (16.30%).
Qorvo Inc. (QRVO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Qorvo Inc. (QRVO) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 2.70, where 16 rate it as a Hold and 3 think it is a “Overweight”. 6 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 11/02/2022.The EPS is expected to grow by 46.50% this year
Qorvo Inc. (QRVO) Top Institutional Holders
The shares outstanding are 105.17M, and float is at 102.69M with Short Float at 2.49%.
Qorvo Inc. (QRVO) Insider Activity
A total of 76 insider transactions have happened at Qorvo Inc. (QRVO) in the last six months, with sales accounting for 48 and purchases happening 28 times. The most recent transaction is an insider sale by FEGO PAUL J, the company’s VP, Global Operations. SEC filings show that FEGO PAUL J sold 2,413 shares of the company’s common stock on Sep 15 at a price of $85.42 per share for a total of $0.21 million. Following the sale, the insider now owns 31666.0 shares.
Qorvo Inc. disclosed in a document filed with the SEC on Sep 07 that GARDNER JEFFERY R (Director) sold a total of 1,500 shares of the company’s common stock. The trade occurred on Sep 07 and was made at $89.16 per share for $0.13 million. Following the transaction, the insider now directly holds 29360.0 shares of the QRVO stock.
Still, SEC filings show that on Aug 22, Stewart Frank P. (VP, Advanced Cellular) disposed off 1,224 shares at an average price of $100.27 for $0.12 million. The insider now directly holds 4,950 shares of Qorvo Inc. (QRVO).
Qorvo Inc. (QRVO): Who are the competitors?
The company’s main competitors (and peers) include Broadcom Inc. (AVGO) that is trading -1.80% down over the past 12 months and QUALCOMM Incorporated (QCOM) that is -5.41% lower over the same period. Analog Devices Inc. (ADI) is -12.97% down on the 1-year trading charts.