Sunday, February 28, 2021

Qorvo Inc. [QRVO] Revenue clocked in at $3.25 billion, up 14.71% YTD: What’s Next?

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Qorvo Inc. [NASDAQ: QRVO] stock went on an upward path that rose over 4.04% on Monday, amounting to a one-week price increase of more than 15.78%. The company report on July 29, 2020 that Qorvo® Announces Fiscal 2021 First Quarter Financial Results.

Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company’s fiscal 2021 first quarter, ended June 27, 2020.


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On a GAAP basis, revenue for Qorvo’s fiscal 2021 first quarter was $787 million, gross margin was 41.4%, operating income was $93 million and diluted earnings per share was $0.83. On a non-GAAP basis, gross margin was 48.6%, operating income was $204 million and diluted earnings per share was $1.50.

Over the last 12 months, QRVO stock rose by 88.07%. The one-year Qorvo Inc. stock forecast points to a potential upside of 1.62. The average equity rating for QRVO stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $15.32 billion, with 114.59 million shares outstanding and 113.64 million shares in the current float. Compared to the average trading volume of 1.51M shares, QRVO stock reached a trading volume of 2250615 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $135.52 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 2.20. 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.

Oppenheimer have made an estimate for Qorvo Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 30, 2020. While these analysts kept the previous recommendation, Cowen raised their target price from $120 to $140. The new note on the price target was released on July 30, 2020, representing the official price target for Qorvo Inc. stock. Previously, the target price had yet another raise to $130, while Morgan Stanley analysts kept a Overweight rating on QRVO stock. On June 15, 2020, analysts increased their price target for QRVO shares from 115 to 120.

The Average True Range (ATR) for Qorvo Inc. is set at 4.49, with the Price to Sales ratio for QRVO stock in the period of the last 12 months amounting to 4.71. The Price to Book ratio for the last quarter was 3.51, with the Price to Cash per share for the same quarter was set at 9.89. Price to Free Cash Flow for QRVO in the course of the last twelve months was 20.18 with Quick ratio for the last quarter at 3.10.

QRVO Stock Performance Analysis:

Qorvo Inc. [QRVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.78. With this latest performance, QRVO shares gained by 20.87% in over the last four-week period, additionally plugging by 23.95% over the last 6 months – not to mention a rise of 88.07% 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 73.39, with the RSI for the last a single of trading hit 78.62, and the three-weeks RSI is set at 70.17 for Qorvo Inc. [QRVO]. The present Moving Average for the last 50 days of trading for this stock 112.45, while it was recorded at 123.76 for the last single week of trading, and 101.96 for the last 200 days.

Insight into Qorvo Inc. Fundamentals:

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 5.97. 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 38.39. Additionally, QRVO Total Debt to Total Capital is recorded at 27.74, with Total Debt to Total Assets ending up at 25.12. Long-Term Debt to Equity for the company is recorded at 37.86, with the Long-Term Debt to Total Capital now at 27.36.

Reflecting on the efficiency of the workforce at the company, Qorvo Inc. [QRVO] managed to generate an average of $42,320 per employee. Receivables Turnover for the company is 8.16 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 3.10 and a Current Ratio set at 4.10.

QRVO Stock EPS

With the latest financial reports released by the company, Qorvo Inc. posted 1.52/share EPS, while the average EPS was predicted by analysts to be reported at 1.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.90%. 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 9.80%.

Qorvo Inc. [QRVO] Insider Position Details

There are presently around $13,848 million, or 92.50% 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 $1.32 billion in QRVO stocks shares; and BLACKROCK INC., currently with $1.22 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 July and at the time of the July reporting period, where 288 institutional holders increased their position in Qorvo Inc. [NASDAQ:QRVO] by around 12,122,633 shares. Additionally, 264 investors decreased positions by around 13,301,556 shares, while 75 investors held positions by with 78,441,961 shares. The mentioned changes placed institutional holdings at 103,866,150 shares, according to the latest SEC report filing. QRVO stock had 83 new institutional investments in for a total of 721,919 shares, while 81 institutional investors sold positions of 2,346,144 shares during the same period.

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