Qorvo Inc (NASDAQ: QRVO) is 0.81% higher on its value in year-to-date trading and has touched a low of $80.62 and a high of $121.65 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 $110.80 in the last trading session, with the day’s gains setting it 2.72%.
Currently trading at $113.52, the stock is -1.18% and 3.20% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.04 million and changing 2.45% at the moment leaves the stock 11.06% off its SMA200. QRVO registered 14.42% gain for a year compared to 6-month gain of 18.68%. The firm has a 50-day simple moving average (SMA 50) of $3.44 and a 200-day simple moving average (SMA200) of $50.16.
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The stock witnessed a 1.48% loss in the last 1 month and extending the period to 3 months gives it a 1.44%, and is -2.25% 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 2.54% over the week and 2.53% over the month.
Qorvo Inc (QRVO) has around 8500 employees, a market worth around $10.96B and $3.46B in sales. Fwd P/E is 14.85. Profit margin for the company is -6.11%. Distance from 52-week low is 40.81% and -6.68% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.08%).
Qorvo Inc quarterly earnings per share for the current quarter are estimated at $1.21 with sales reaching $926.25M over the same period.The EPS is expected to grow by 1.94% this year, but quarterly earnings will post 5.20% year-over-year. Quarterly sales are estimated to grow 46.40% in year-over-year returns.
871 institutions hold shares in Qorvo Inc (QRVO), with institutional investors hold 91.07% of the company’s shares. The shares outstanding are 98.65M, and float is at 95.89M with Short Float at 2.23%. Institutions hold 90.59% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 11.86 million shares valued at $1.21 billion. The investor’s holdings represent 12.11% of the QRVO Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 8.59 million shares valued at $876.36 million to account for 8.77% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 4.77 million shares representing 4.87% and valued at over $486.25 million, while State Street Corporation holds 4.65% of the shares totaling 4.55 million with a market value of $464.4 million.
Qorvo Inc (QRVO) Insider Activity
The most recent transaction is an insider sale by CREVISTON STEVEN E, the company’s SVP, Connectivity & Sensors. SEC filings show that CREVISTON STEVEN E sold 3,000 shares of the company’s common stock on Mar 01 ’24 at a price of $120.00 per share for a total of $0.36 million. Following the sale, the insider now owns 77552.0 shares.
Qorvo Inc disclosed in a document filed with the SEC on Feb 15 ’24 that Chesley Philip (SVP, High Performance Analog) sold a total of 4,253 shares of the company’s common stock. The trade occurred on Feb 15 ’24 and was made at $114.00 per share for $0.48 million. Following the transaction, the insider now directly holds 25286.0 shares of the QRVO stock.
Still, SEC filings show that on Feb 15 ’24, FEGO PAUL J (SVP, Global Operations) disposed off 3,027 shares at an average price of $114.00 for $0.35 million. The insider now directly holds 29,705 shares of Qorvo Inc (QRVO).
