Qorvo Inc. (NASDAQ: QRVO) is 4.03% higher on its value in year-to-date trading and has touched a low of $75.38 and a high of $114.59 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 $93.75 in the last trading session, with the day’s gains setting it 0.54% off its average median price target of $109.00 for the next 12 months. It is also 32.65% off the consensus price target high of $140.00 offered by 26 analysts, but current levels are -0.31% lower than the price target low of $94.00 for the same period.
Currently trading at $94.29, the stock is 1.38% and -0.66% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.91 million and changing 0.58% at the moment leaves the stock -0.64% off its SMA200. QRVO registered -7.70% loss for a year compared to 6-month loss of -2.72%. The firm has a 50-day simple moving average (SMA 50) of $2.98 and a 200-day simple moving average (SMA200) of $55.13.
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The stock witnessed a 5.01% gain in the last 1 month and extending the period to 3 months gives it a -6.34%, and is -0.77% 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 2.69% over the week and 3.19% over the month.
Qorvo Inc. (QRVO) has around 8900 employees, a market worth around $9.42B and $3.57B in sales. Current P/E ratio is 102.49 and Fwd P/E is 12.83. Profit margin for the company is 19.20%. Distance from 52-week low is 25.09% and -17.71% 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 “Hold”. 26 analysts offering their recommendations for the stock have an average rating of 2.90, where 18 rate it as a Hold and 2 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Qorvo Inc. is expected to release its quarterly report on 08/02/2023.The EPS is expected to grow by 46.50% this year
Qorvo Inc. (QRVO) Top Institutional Holders
The shares outstanding are 100.94M, and float is at 99.28M with Short Float at 2.24%.
Qorvo Inc. (QRVO) Insider Activity
A total of 9 insider transactions have happened at Qorvo Inc. (QRVO) in the last six months, with sales accounting for 8 and purchases happening 1 times. The most recent transaction is an insider sale by BRUGGEWORTH ROBERT A, the company’s President and CEO. SEC filings show that BRUGGEWORTH ROBERT A sold 11,218 shares of the company’s common stock on May 22 at a price of $93.84 per share for a total of $1.05 million. Following the sale, the insider now owns 0.18 million shares.
Qorvo Inc. disclosed in a document filed with the SEC on May 18 that FEGO PAUL J (SVP, Global Operations) sold a total of 4,304 shares of the company’s common stock. The trade occurred on May 18 and was made at $95.00 per share for $0.41 million. Following the transaction, the insider now directly holds 33070.0 shares of the QRVO stock.
Still, SEC filings show that on May 17, BRUGGEWORTH ROBERT A (President and CEO) disposed off 17,063 shares at an average price of $90.73 for $1.55 million. The insider now directly holds 190,024 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 39.03% up over the past 12 months and QUALCOMM Incorporated (QCOM) that is -19.07% lower over the same period. Analog Devices Inc. (ADI) is 6.51% up on the 1-year trading charts.