The Benchmark Company slashes price target on Qorvo Inc. [QRVO] – find out why.


Qorvo Inc. [NASDAQ: QRVO] slipped around -10.5 points on Thursday, while shares priced at $108.84 at the close of the session, down -8.80%. The company report on May 4, 2022 that Qorvo® Announces Fiscal 2022 Fourth Quarter Financial Results.

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Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company’s fiscal 2022 fourth quarter ended April 2, 2022.

On a GAAP basis, revenue for Qorvo’s fiscal 2022 fourth quarter was $1.166 billion, gross margin was 48.9%, operating income was $271 million and diluted earnings per share was $1.95. On a non-GAAP basis, gross margin was 52.0%, operating income was $377 million and diluted earnings per share was $3.12.

Qorvo Inc. stock is now -30.40% down from its year-to-date (YTD) trading value. QRVO Stock saw the intraday high of $113.93 and lowest of $106.91 per share. The company’s 52-week high price is 201.46, which means current price is +1.81% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 1.31M shares, QRVO reached a trading volume of 3025326 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $172.00 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 2.40. 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.

The Benchmark Company have made an estimate for Qorvo Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 05, 2022. The new note on the price target was released on March 28, 2022, representing the official price target for Qorvo Inc. stock. Previously, the target price had yet another drop from $185 to $150, while Morgan Stanley kept a Equal-Weight rating on QRVO stock. On February 03, 2022, analysts decreased their price target for QRVO shares from 180 to 145.

The Average True Range (ATR) for Qorvo Inc. is set at 5.44, with the Price to Sales ratio for QRVO stock in the period of the last 12 months amounting to 2.67. The Price to Book ratio for the last quarter was 2.56, with the Price to Cash per share for the same quarter was set at 8.86. Price to Free Cash Flow for QRVO in the course of the last twelve months was 14.03 with Quick ratio for the last quarter at 2.60.

How has QRVO stock performed recently?

Qorvo Inc. [QRVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.04. With this latest performance, QRVO shares dropped by -7.72% in over the last four-week period, additionally sinking by -38.90% over the last 6 months – not to mention a drop of -41.07% 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 39.63, with the RSI for the last a single of trading hit 37.61, and the three-weeks RSI is set at 40.64 for Qorvo Inc. [QRVO]. The present Moving Average for the last 50 days of trading for this stock 122.63, while it was recorded at 116.32 for the last single week of trading, and 152.71 for the last 200 days.

Qorvo Inc. [QRVO]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Qorvo Inc. [QRVO] shares currently have an operating margin of +23.33 and a Gross Margin at +46.91. Qorvo Inc.’s Net Margin is presently recorded at +18.27.

Return on Total Capital for QRVO is now 15.12, given the latest momentum, and Return on Invested Capital for the company is 11.89. Return on Equity for this stock inclined to 16.44, with Return on Assets sitting at 10.65. When it comes to the capital structure of this company, Qorvo Inc. [QRVO] has a Total Debt to Total Equity ratio set at 39.22. Additionally, QRVO Total Debt to Total Capital is recorded at 28.17, with Total Debt to Total Assets ending up at 25.15. Long-Term Debt to Equity for the company is recorded at 38.79, with the Long-Term Debt to Total Capital now at 27.86.

Reflecting on the efficiency of the workforce at the company, Qorvo Inc. [QRVO] managed to generate an average of $87,335 per employee. Receivables Turnover for the company is 9.17 with a Total Asset Turnover recorded at a value of 0.58.Qorvo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 3.60.

Earnings analysis for Qorvo Inc. [QRVO]

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 12.34%.

Insider trade positions for Qorvo Inc. [QRVO]

There are presently around $11,735 million, or 87.50% of QRVO stock, in the hands of institutional investors. The top three institutional holders of QRVO stocks are: VANGUARD GROUP INC with ownership of 12,138,463, which is approximately -0.775% of the company’s market cap and around 0.10% of the total institutional ownership; VULCAN VALUE PARTNERS, LLC, holding 11,281,300 shares of the stock with an approximate value of $1.35 billion in QRVO stocks shares; and BLACKROCK INC., currently with $1.04 billion in QRVO stock with ownership of nearly -7.531% of the company’s market capitalization.

310 institutional holders increased their position in Qorvo Inc. [NASDAQ:QRVO] by around 18,001,282 shares. Additionally, 386 investors decreased positions by around 12,123,581 shares, while 108 investors held positions by with 68,211,545 shares. The mentioned changes placed institutional holdings at 98,336,408 shares, according to the latest SEC report filing. QRVO stock had 87 new institutional investments in for a total of 1,724,260 shares, while 114 institutional investors sold positions of 1,709,157 shares during the same period.