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.
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