Equities analysts predict that Qorvo, Inc. (NASDAQ:QRVO) will post sales of $840.55 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Qorvo’s earnings. The highest sales estimate is $842.60 million and the lowest is $840.00 million. Qorvo posted sales of $826.35 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The firm is expected to issue its next earnings report on Wednesday, February 7th.

According to Zacks, analysts expect that Qorvo will report full-year sales of $840.55 million for the current financial year, with estimates ranging from $3.08 billion to $3.12 billion. For the next year, analysts forecast that the firm will report sales of $3.37 billion per share, with estimates ranging from $3.23 billion to $3.45 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Qorvo.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.52. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The business had revenue of $821.60 million during the quarter, compared to the consensus estimate of $810.47 million. During the same period last year, the company earned $1.29 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis.

A number of brokerages have issued reports on QRVO. Morgan Stanley raised their target price on Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. BidaskClub downgraded Qorvo from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. ValuEngine downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. J P Morgan Chase & Co set a $88.00 target price on Qorvo and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, Citigroup raised their target price on Qorvo from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $76.89.

In other news, Director Walter H. Wilkinson sold 15,925 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the completion of the transaction, the director now directly owns 62,480 shares in the company, valued at approximately $4,999,649.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert A. Bruggeworth sold 5,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the transaction, the insider now owns 185,344 shares of the company’s stock, valued at $12,153,006.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,696 shares of company stock valued at $4,519,191. Company insiders own 0.91% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Qorvo by 16.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 433,541 shares of the semiconductor company’s stock valued at $27,452,000 after acquiring an additional 59,712 shares during the period. American Century Companies Inc. purchased a new position in Qorvo during the 2nd quarter valued at about $814,000. Toronto Dominion Bank boosted its holdings in Qorvo by 26.1% during the 2nd quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock valued at $2,725,000 after acquiring an additional 8,911 shares during the period. Janus Henderson Group PLC boosted its holdings in Qorvo by 424.0% during the 2nd quarter. Janus Henderson Group PLC now owns 77,882 shares of the semiconductor company’s stock valued at $4,932,000 after acquiring an additional 63,019 shares during the period. Finally, Robecosam AG boosted its holdings in Qorvo by 17.9% during the 2nd quarter. Robecosam AG now owns 165,000 shares of the semiconductor company’s stock valued at $10,608,000 after acquiring an additional 25,000 shares during the period. Institutional investors and hedge funds own 96.72% of the company’s stock.

Shares of Qorvo (NASDAQ QRVO) traded up $0.28 on Friday, hitting $67.07. The company’s stock had a trading volume of 844,946 shares, compared to its average volume of 1,519,771. Qorvo has a twelve month low of $52.05 and a twelve month high of $81.20. The firm has a market cap of $8,490.00 and a P/E ratio of 16.76. The company has a quick ratio of 2.71, a current ratio of 3.80 and a debt-to-equity ratio of 0.20.

COPYRIGHT VIOLATION WARNING: This news story was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/12/20/qorvo-inc-qrvo-expected-to-post-quarterly-sales-of-840-55-million.html.

Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Get a free copy of the Zacks research report on Qorvo (QRVO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.