Qorvo (QRVO) exceeds stock market gains: what you need to know

Qorvo (QRVO) closed at $ 182.91 in the last trading session, marking a movement of + 0.75% from the previous day. The stock topped the S&P 500 daily gain by 0.47%.

Prior to today’s trading, shares of the chipmaker had gained 9.8% over the past month. This exceeded the 2.06% gain of the IT and tech sector and the 0.12% loss of the S&P 500 during this period.

Wall Street will research QRVO for positivity as the date of its next earnings report approaches. The company is expected to post EPS of $ 2.45, up 63.33% from the previous year quarter. Our most recent consensus estimate projects quarterly revenue of $ 1.08 billion, up 37.21% from the previous year.

For the full year, our Zacks consensus estimates suggest analysts expect earnings of $ 11.47 per share and revenue of $ 4.62 billion. These totals would mark changes of + 14.7% and + 14.94%, respectively, from a year ago.

It’s also important to note the recent changes to analyst estimates for QRVO. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can take positive estimate revisions as a sign of optimism about the company’s business prospects.

Research indicates that these estimate revisions are directly correlated with short-term stock price dynamics. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes these rating changes into account and provides an actionable rating system.

Ranging from # 1 (strong buy) to # 5 (strong sell), the Zacks ranking system has a proven and externally audited track record of outperformance, with # 1 stocks returning an average of + 25% per year since. 1988. The Zacks Consensus The EPS estimate has remained stagnant over the past month. QRVO currently holds a Zacks rank of # 3 (Hold).

In view of its valuation, QRVO has a forward P / E ratio of 15.83. Its industry has an average forward P / E of 16.36, so one could conclude that QRVO is trading at a comparatively discount.

Additionally, it should be mentioned that QRVO has a PEG ratio of 1.51. This metric is used similarly to the famous P / E ratio, but the PEG ratio also takes into account the expected growth rate of the stock’s earnings. The Semiconductor – Radio Frequency industry currently had an average PEG ratio of 1.2 at yesterday’s close.

The Semiconductors – Radiofrequency industry is part of the Information technology and technology sector. This group has a Zacks Industry Rank of 198, which places it in the lowest 23% of the 250+ industries.

The Zacks Industry Rankings assesses the strength of our individual industry groups by measuring the average Zacks rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and more, at Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today you can download 7 best stocks for the next 30 days. Click to get this free report

Qorvo, Inc. (QRVO): Free Stock Analysis Report

To read this article on Zacks.com, click here.

Source link

About Mariel Baker

Check Also

Universities with the most graduates working in the best Fortune 500 companies

The University of Phoenix tops the list of universities with the most alumni working in …