Qorvo Inc. [QRVO] Stock trading around $100.40 per share: What’s Next?

Qorvo Inc. [NASDAQ: QRVO] closed the trading session at $100.40 on 01/13/23. The day’s price range saw the stock hit a low of $98.13, while the highest price level was $100.46. The company report on December 12, 2022 that Qorvo® Receives 2022 Most Respected Public Semiconductor Company Award from the GSA.

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GSA recognizes semiconductor companies that demonstrate excellence through their success, vision, strategy and future opportunities in the industry. The GSA Award is recognized globally as one of the most respected and prestigious awards a semiconductor company can receive.

The stocks have a year to date performance of 10.77 percent and weekly performance of 7.55 percent. The stock has been moved at 0.22 percent over the last six months. The stock has performed -1.76 percent around the most recent 30 days and changed 22.56 percent over the most recent 3-months.

If compared to the average trading volume of 1.24M shares, QRVO reached to a volume of 747953 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $96.26 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 2.90. 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.

Credit Suisse have made an estimate for Qorvo Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 16, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $125 to $90. The new note on the price target was released on November 03, 2022, representing the official price target for Qorvo Inc. stock. Previously, the target price had yet another drop from $120 to $90, while Barclays kept a Equal Weight rating on QRVO stock. On October 11, 2022, analysts decreased their price target for QRVO shares from 130 to 85.

The Average True Range (ATR) for Qorvo Inc. is set at 3.14, with the Price to Sales ratio for QRVO stock in the period of the last 12 months amounting to 2.26. The Price to Book ratio for the last quarter was 2.39, with the Price to Cash per share for the same quarter was set at 9.06. Price to Free Cash Flow for QRVO in the course of the last twelve months was 12.45 with Quick ratio for the last quarter at 2.20.

QRVO stock trade performance evaluation

Qorvo Inc. [QRVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.55. With this latest performance, QRVO shares dropped by -1.76% in over the last four-week period, additionally plugging by 0.22% over the last 6 months – not to mention a drop of -34.31% 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 63.57, with the RSI for the last a single of trading hit 71.57, and the three-weeks RSI is set at 59.56 for Qorvo Inc. [QRVO]. The present Moving Average for the last 50 days of trading for this stock 94.13, while it was recorded at 98.10 for the last single week of trading, and 98.35 for the last 200 days.

Qorvo Inc. [QRVO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Qorvo Inc. [QRVO] shares currently have an operating margin of +28.02 and a Gross Margin at +49.29. Qorvo Inc.’s Net Margin is presently recorded at +22.24.

Return on Equity for this stock inclined to 22.51, with Return on Assets sitting at 14.03.

Qorvo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 3.30.

Earnings per share (EPS) analysis for Qorvo Inc. [QRVO] stock

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 -1.11%.

Qorvo Inc. [QRVO]: Insider Ownership positions

There are presently around $8,890 million, or 89.40% of QRVO stock, in the hands of institutional investors. The top three institutional holders of QRVO stocks are: VANGUARD GROUP INC with ownership of 11,947,883, which is approximately -2.09% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 8,233,224 shares of the stock with an approximate value of $826.62 million in QRVO stocks shares; and BAUPOST GROUP LLC/MA, currently with $680.3 million in QRVO stock with ownership of nearly -2.743% of the company’s market capitalization.

Positions in Qorvo Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 222 institutional holders increased their position in Qorvo Inc. [NASDAQ:QRVO] by around 7,939,817 shares. Additionally, 335 investors decreased positions by around 10,269,251 shares, while 88 investors held positions by with 70,332,842 shares. The mentioned changes placed institutional holdings at 88,541,910 shares, according to the latest SEC report filing. QRVO stock had 53 new institutional investments in for a total of 1,307,375 shares, while 98 institutional investors sold positions of 2,774,726 shares during the same period.


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