Qorvo Inc [NASDAQ: QRVO] price plunged by -14.50 percent to reach at -$16.22.
The one-year QRVO stock forecast points to a potential upside of 12.57. The average equity rating for QRVO stock is currently 2.71, trading closer to a bullish pattern in the stock market.
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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 $109.42 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 2.71. 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.
Craig Hallum have made an estimate for Qorvo Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 01, 2024. The new note on the price target was released on January 04, 2024, representing the official price target for Qorvo Inc stock. Previously, the target price had yet another raise from $120 to $134, while Morgan Stanley kept a Overweight rating on QRVO stock.
The Average True Range (ATR) for Qorvo Inc is set at 4.19, with the Price to Sales ratio for QRVO stock in the period of the last 12 months amounting to 2.45. The Price to Book ratio for the last quarter was 2.54, with the Price to Cash per share for the same quarter was set at 10.66. Price to Free Cash Flow for QRVO in the course of the last twelve months was 16.27 with Quick ratio for the last quarter at 1.41.
QRVO Stock Performance Analysis:
Qorvo Inc [QRVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.59. With this latest performance, QRVO shares dropped by -16.74% in over the last four-week period, additionally plugging by 9.44% over the last 6 months – not to mention a rise of 2.40% 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 31.00, with the RSI for the last a single of trading hit 25.70, and the three-weeks RSI is set at 34.94 for Qorvo Inc [QRVO]. The present Moving Average for the last 50 days of trading for this stock 113.46, while it was recorded at 112.00 for the last single week of trading, and 103.93 for the last 200 days.
Insight into Qorvo Inc Fundamentals:
Qorvo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.41 and a Current Ratio set at 1.99.
QRVO Stock EPS
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] Institutonal Ownership Details
The top three institutional holders of QRVO stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in QRVO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in QRVO stock with ownership which is approximately 5.8386%.
