Wall Street brokerages expect that Qorvo (NASDAQ:QRVO) will post sales of $656.56 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Qorvo’s earnings, with the highest sales estimate coming in at $660.00 million and the lowest estimate coming in at $654.70 million. Qorvo posted sales of $642.99 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The business is scheduled to report its next quarterly earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that Qorvo will report full year sales of $2.99 billion for the current year, with estimates ranging from $2.96 billion to $3.10 billion. For the next financial year, analysts expect that the business will report sales of $3.28 billion per share, with estimates ranging from $3.17 billion to $3.35 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Qorvo.

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Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The company had revenue of $845.70 million during the quarter, compared to the consensus estimate of $841.09 million. During the same period in the previous year, the firm posted $1.35 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year.

A number of research firms have recently issued reports on QRVO. Nomura raised shares of Qorvo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $85.00 in a report on Thursday, February 1st. BMO Capital Markets lifted their price objective on shares of Qorvo from $63.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. Morgan Stanley lifted their price objective on shares of Qorvo from $70.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Barclays lifted their price objective on shares of Qorvo from $75.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Finally, Canaccord Genuity lifted their price objective on shares of Qorvo from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. Qorvo currently has an average rating of “Hold” and a consensus target price of $81.47.

In other Qorvo news, Director Daniel A. Dileo sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $83.97, for a total value of $209,925.00. Following the transaction, the director now owns 27,282 shares in the company, valued at $2,290,869.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $78.97, for a total transaction of $473,820.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock worth $1,243,455. 0.91% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in QRVO. JPMorgan Chase & Co. increased its position in shares of Qorvo by 16.8% in the third quarter. JPMorgan Chase & Co. now owns 213,124 shares of the semiconductor company’s stock valued at $14,962,000 after acquiring an additional 30,659 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Qorvo by 4.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,217,756 shares of the semiconductor company’s stock valued at $86,067,000 after acquiring an additional 50,179 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Qorvo by 7.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 22,819 shares of the semiconductor company’s stock valued at $1,613,000 after acquiring an additional 1,657 shares during the period. AMP Capital Investors Ltd increased its position in shares of Qorvo by 34.6% in the third quarter. AMP Capital Investors Ltd now owns 49,688 shares of the semiconductor company’s stock valued at $3,512,000 after acquiring an additional 12,759 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Qorvo by 1.4% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 110,999 shares of the semiconductor company’s stock valued at $7,846,000 after acquiring an additional 1,506 shares during the period. Hedge funds and other institutional investors own 97.56% of the company’s stock.

NASDAQ QRVO opened at $72.28 on Friday. Qorvo has a 52-week low of $62.68 and a 52-week high of $86.84. The company has a quick ratio of 3.62, a current ratio of 4.72 and a debt-to-equity ratio of 0.23. The firm has a market cap of $9,177.11, a PE ratio of 17.85, a P/E/G ratio of 1.01 and a beta of 0.92.

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Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PA), low noise amplifiers, switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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