As of Wednesday close, Qorvo Inc.’s (NASDAQ:QRVO) stock was down -$2.3, moving down -2.31 percent to $97.22. The average number of shares traded per day over the past five days has been 1,276,480 shares. 1 time new highs have been achieved over the past 5 days, with a -$7.88 fall in that time frame. In the last twenty days, the average volume was 1,253,920, while in the previous 50 days, it was 1,174,962.
Since last month, QRVO stock retreated -8.94%. Shares of the company fell to $96.92 on 08/16/23, the lowest level in the past month. A 52-week high of $114.59 was reached on 02/01/23 after having rallying from a 52-week low of $75.38. Since the beginning of this year, QRVO’s stock price has risen by 7.26% or $6.58, and marked a new high 13 times. However, the stock has declined by -15.16% since its 52-week high.
QRVO stock investors should be aware that Qorvo Inc. (QRVO) stock had its last reported insider trading activity 70 days ago on Jun 08. HARDING JOHN R, the Director of the company, disposed of 1,000 shares for $99.72 on Jun 08. It resulted in a $99,720 divestment by the insider. CREVISTON STEVEN E sold 3,000 shares at an average price of $100.00 on May 26. The insider now owns 75,891 shares following the transaction. On May 22, President and CEO BRUGGEWORTH ROBERT A sold 11,218 shares at $93.84 apiece. The transaction was valued at $1,052,697.
Valuation Metrics
The stock’s beta is 1.45. Besides these, the trailing price-to-sales (P/S) ratio of 3.06, the price-to-book (PB) ratio of 2.51, and the price-to-cash flow ratio of 21.19 may also be considered.
Financial Health
In the three months ended June 29, Qorvo Inc.’s quick ratio stood at 1.80, while its current ratio was 3.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.54, and the total debt-to-equity ratio was 0.54. On the profitability front, the trailing twelve-month gross margin is 36.10% percent. In the year ended June 29, EBITDA margin amounted to 18.75%, whereas operating margins totaled 1.00%. Based on annual data, QRVO earned $1.3 billion in gross profit and brought in $3.57 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 2.60%. Return on equity (ROE) for the past 12 months was -0.20%.
In Qorvo Inc.’s quarter-end financial report for June 29, it reported total debt of $2.05 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. QRVO’s revenue fell -59.0% to -$2.56 trillion during the quarter, while net income inched up to $651.16 million. While analysts expected Qorvo Inc. to report $0.15 quarterly earnings, the actual figure was $0.34 per share, beating the consensus estimate by 126.70%. During the quarter, the company generated $32.88 million in EBITDA. The liabilities of Qorvo Inc. were 2.87 billion at the end of its most recent quarter ended June 29, and its total debt was $2.05 billion. The value of shareholders’ equity is $97.91 million.
Technical Picture
This quick technical analysis looks at Qorvo Inc.’s (QRVO) price momentum. With a historical volatility rate of 22.85%, the RSI 9-day stood at 23.38% on 16 August.
With respect to its five-day moving average, the current Qorvo Inc. price is down by -7.50% percent or -$7.88. At present, QRVO shares trade -8.14% below its 20-day simple moving average and -5.13% percent below its 100-day simple moving average. However, the stock is currently trading approximately +1.38% above its SMA50 and +14.39% above its SMA200.
Stochastic coefficient K was 7.71% and Stochastic coefficient D was 9.59%, while ATR was 2.98. Given the Stochastic reading of 1.97% for the 14-day period, the RSI (14) reading has been calculated as 32.14%. As of today, the MACD Oscillator reading stands at -3.48, while the 14-day reading stands at -5.22.
Analyst Ratings
Exane BNP Paribas upgraded its rating on Qorvo Inc. (NASDAQ: QRVO) to an Outperform in a note to investors on August 03, 2023. The analysts firm previously had a Neutral rating on the stock.Qorvo Inc. (QRVO) has been rated Hold by analysts. According to 1 brokerage firm, QRVO is a sell, and 21 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate Qorvo Inc. stock as buy, with 6 recommending it as overweight.
With a median target price of $113.78, the current consensus forecast for the stock is $95.00 – $136.00. Based on these forecasts, analysts predict Qorvo Inc. (QRVO) will achieve an average price target of $115.48.
