Qorvo Inc [NASDAQ: QRVO] plunged by -$0.52 during the normal trading session on while it closed the day at $99.74. The company report on January 31, 2024 at 4:03 PM that Qorvo® to Acquire Anokiwave.
Anokiwave’s Solutions Expand Qorvo’s Addressable Opportunities in D&A, SATCOM and 5G Markets.
Qorvo Inc stock has also loss -5.87% of its value over the past 7 days. However, QRVO stock has inclined by 15.88% in the 3 months of the year. Over the past six months meanwhile, it has lost -9.50% and lost -11.43% year-on date.
The market cap for QRVO stock reached $9.71 billion, with 98.65 million shares outstanding and 96.67 million shares in the current float. Compared to the average trading volume of 1.33M shares, QRVO reached a trading volume of 3477447 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 $110.81 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 2.61. 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.
Piper Sandler have made an estimate for Qorvo Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 04, 2024.
The Average True Range (ATR) for Qorvo Inc is set at 2.70, with the Price to Sales ratio for QRVO stock in the period of the last 12 months amounting to 3.10. The Price to Book ratio for the last quarter was 2.55, with the Price to Cash per share for the same quarter was set at 7.26. Price to Free Cash Flow for QRVO in the course of the last twelve months was 31.93 with Quick ratio for the last quarter at 2.12.
QRVO stock trade performance evaluation
Qorvo Inc [QRVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.87. With this latest performance, QRVO shares dropped by -11.43% in over the last four-week period, additionally sinking by -9.50% over the last 6 months – not to mention a drop of -7.38% 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 38.86, with the RSI for the last a single of trading hit 32.62, and the three-weeks RSI is set at 43.19 for Qorvo Inc [QRVO]. The present Moving Average for the last 50 days of trading for this stock 103.70, while it was recorded at 102.76 for the last single week of trading, and 98.97 for the last 200 days.
Qorvo Inc [QRVO]: An insightful look at the core fundamentals
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 per share (EPS) analysis for Qorvo Inc [QRVO] stock
With the latest financial reports released by the company, Qorvo Inc posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.63/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 19.00%. 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%.
Qorvo Inc [QRVO]: Institutional Ownership
The top three institutional holders of QRVO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in QRVO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in QRVO stock with ownership which is approximately 5.8325%.
