Qorvo Inc [NASDAQ: QRVO] traded at a low on 11/02/23, posting a -2.66 loss after which it closed the day’ session at $85.48. The company report on November 1, 2023 at 4:00 PM that Qorvo® Announces Fiscal 2024 Second Quarter Financial Results.
The results of the trading session contributed to over 3568077 shares changing hands. Over the past one week, the price volatility of Qorvo Inc stands at 4.53% while the volatility over the past one month is 2.81%.
The market cap for QRVO stock reached $8.37 billion, with 98.65 million shares outstanding and 97.22 million shares in the current float. Compared to the average trading volume of 1.22M shares, QRVO reached a trading volume of 3568077 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 $113.44 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 2.77. 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.
Summit Insights have made an estimate for Qorvo Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on Nov-03-23.
The Average True Range (ATR) for Qorvo Inc is set at 2.77, 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 2.20, with the Price to Cash per share for the same quarter was set at 7.22. Price to Free Cash Flow for QRVO in the course of the last twelve months was 18.19 with Quick ratio for the last quarter at 2.12.
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 -0.93. With this latest performance, QRVO shares dropped by -9.16% in over the last four-week period, additionally sinking by -9.05% over the last 6 months – not to mention a drop of -1.19% 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 30.15, with the RSI for the last a single of trading hit 28.38, and the three-weeks RSI is set at 32.68 for Qorvo Inc [QRVO]. The present Moving Average for the last 50 days of trading for this stock 95.07, while it was recorded at 86.65 for the last single week of trading, and 98.97 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 +9.26 and a Gross Margin at +37.64. Qorvo Inc’s Net Margin is presently recorded at +2.89.
Return on Total Capital for QRVO is now 5.20, given the latest momentum, and Return on Invested Capital for the company is 1.63. Return on Equity for this stock inclined to 2.44, with Return on Assets sitting at 1.45. When it comes to the capital structure of this company, Qorvo Inc [QRVO] has a Total Debt to Total Equity ratio set at 54.75. Additionally, QRVO Total Debt to Total Capital is recorded at 35.38, with Total Debt to Total Assets ending up at 31.93. Long-Term Debt to Equity for the company is recorded at 54.25, with the Long-Term Debt to Total Capital now at 35.06.
Reflecting on the efficiency of the workforce at the company, Qorvo Inc [QRVO] managed to generate an average of $12,136 per employee. Receivables Turnover for the company is 7.66 with a Total Asset Turnover recorded at a value of 0.50.Qorvo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.12 and a Current Ratio set at 3.37.
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 10.00%.
Insider trade positions for Qorvo Inc [QRVO]
The top three institutional holders of QRVO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in QRVO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in QRVO stock with ownership which is approximately 5.7994%.