Qorvo (QRVO) Set to Announce Earnings on Tuesday

Qorvo (NASDAQ:QRVO) is set to announce its earnings results after the market closes on Tuesday, July 30th. Analysts expect the company to announce earnings of $0.71 per share for the quarter. Qorvo has set its Q1 guidance at $0.60-0.80 EPS and its Q1 2025 guidance at 0.600-0.800 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million during the quarter, compared to analysts’ expectations of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The firm’s revenue was up 48.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. On average, analysts expect Qorvo to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Qorvo Stock Performance

Shares of QRVO stock opened at $122.01 on Monday. The stock has a market cap of $11.59 billion, a P/E ratio of -167.14, a P/E/G ratio of 1.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. The company has a fifty day moving average price of $111.88 and a two-hundred day moving average price of $110.36. Qorvo has a one year low of $80.62 and a one year high of $130.99.

Insider Buying and Selling

In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the transaction, the chief executive officer now directly owns 190,161 shares of the company’s stock, valued at $19,016,100. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the transaction, the chief executive officer now directly owns 190,161 shares of the company’s stock, valued at $19,016,100. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert A. Bruggeworth sold 4,721 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total transaction of $472,100.00. Following the transaction, the chief executive officer now directly owns 205,440 shares in the company, valued at $20,544,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,372 shares of company stock valued at $4,517,858. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Mizuho cut their price target on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group cut their price target on shares of Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Barclays cut their price target on shares of Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Qorvo in a research note on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $112.94.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.