Qorvo Inc. [NASDAQ: QRVO] gained 1.63% or 1.89 points to close at $117.56 with a heavy trading volume of 1379958 shares. It opened the trading session at $116.08, the shares rose to $118.94 and dropped to $115.23, the range by which the price of stock traded the whole day. The daily chart for QRVO points out that the company has recorded 11.12% gains over the past six months. However, it is still -94.73% lower than its most recent low trading price.
If we look at the average trading volume of 1.87M shares, QRVO reached to a volume of 1379958 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Qorvo Inc. [QRVO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QRVO shares is $116.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QRVO stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Loop Capital have made an estimate for Qorvo Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 08, 2020. While these analysts kept the previous recommendation, Craig Hallum raised their target price from $100 to $120. The new note on the price target was released on May 08, 2020, representing the official price target for Qorvo Inc. stock. Previously, the target price had yet another drop from $125 to $100, while Craig Hallum kept a Buy rating on QRVO stock.
The Average True Range (ATR) for Qorvo Inc. is set at 4.38, with the Price to Sales ratio for QRVO stock in the period of the last 12 months amounting to 4.20. The Price to Book ratio for the last quarter was 3.17. Price to Free Cash Flow for QRVO in the course of the last twelve months was 17.41 with Quick ratio for the last quarter at 2.20.
Trading performance analysis for QRVO stock
Qorvo Inc. [QRVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.41. With this latest performance, QRVO shares gained by 16.60% in over the last four-week period, additionally plugging by 11.12% over the last 6 months – not to mention a rise of 82.60% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QRVO stock in for the last two-week period is set at 70.37, with the RSI for the last a single of trading hit 75.98, and the three-weeks RSI is set at 65.76 for Qorvo Inc. [QRVO]. The present Moving Average for the last 50 days of trading for this stock 94.29, while it was recorded at 113.86 for the last single week of trading, and 94.36 for the last 200 days.
Qorvo Inc. [QRVO]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Qorvo Inc. [QRVO] shares currently have an operating margin of +16.27 and a Gross Margin at +42.00. Qorvo Inc.’s Net Margin is presently recorded at +10.32.
Return on Total Capital for QRVO is now 9.39, given the latest momentum, and Return on Invested Capital for the company is 6.00. Return on Equity for this stock inclined to 7.73, with Return on Assets sitting at 5.41. When it comes to the capital structure of this company, Qorvo Inc. [QRVO] has a Total Debt to Total Equity ratio set at 36.51. Additionally, QRVO Total Debt to Total Capital is recorded at 26.75, with Total Debt to Total Assets ending up at 25.12. Long-Term Debt to Equity for the company is recorded at 36.51, with the Long-Term Debt to Total Capital now at 26.75.
Receivables Turnover for the company is 8.38 with a Total Asset Turnover recorded at a value of 0.52.Qorvo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 3.10.
Qorvo Inc. [QRVO]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Qorvo Inc. posted 1.36/share EPS, while the average EPS was predicted by analysts to be reported at 1.15/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QRVO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Qorvo Inc. go to 9.07%.
An analysis of insider ownership at Qorvo Inc. [QRVO]
There are presently around $12,029 million, or 92.00% of QRVO stock, in the hands of institutional investors. The top three institutional holders of QRVO stocks are: VANGUARD GROUP INC with ownership of 13,605,896, which is approximately 2.232% of the company’s market cap and around 0.50% of the total institutional ownership; VULCAN VALUE PARTNERS, LLC, holding 9,868,731 shares of the stock with an approximate value of $1.14 billion in QRVO stocks shares; and BLACKROCK INC., currently with $1.06 billion in QRVO stock with ownership of nearly 2.776% of the company’s market capitalization.
Positions in Qorvo Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 271 institutional holders increased their position in Qorvo Inc. [NASDAQ:QRVO] by around 12,284,702 shares. Additionally, 274 investors decreased positions by around 13,228,489 shares, while 80 investors held positions by with 78,483,590 shares. The mentioned changes placed institutional holdings at 103,996,781 shares, according to the latest SEC report filing. QRVO stock had 67 new institutional investments in for a total of 769,304 shares, while 96 institutional investors sold positions of 2,387,559 shares during the same period.