Qorvo Inc (NASDAQ:QRVO) saw a downside of -0.44% to close Friday at $94.13 after subtracting -$0.42 on the day. The 5-day average trading volume is 1,004,980 shares of the company’s common stock. It has gained $97.47 in the past week and touched a new high 1 time within the past 5 days. An average of 1,288,170 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,208,012.
QRVO’s 1-month performance is -7.91% or -$6.03 on its low of $93.72 reached on 09/13/23. The company’s shares have touched a 52-week low of $75.38 and high of $114.59, with the stock’s rally to the 52-week high happening on 02/01/23. YTD, QRVO has achieved 3.85% or $3.49 and has reached a new high 13 times. However, the current price is down -17.85% from the 52-week high price.
Insider Transactions
QRVO stock investors last saw insider trading activity on Sep 06.Harrison Gina (VP and Corporate Controller) most recently sold 662 shares at $106.95 per share on Sep 06. This transaction cost the insider $70,801. SVP, Advanced Cellular, Stewart Frank P., sold 500 shares at a price of $107.00 on Sep 06. Then, on Sep 05, SVP, Advanced Cellular Stewart Frank P. sold 500 shares at a price of $108.00 per share. This transaction amounted to $54,000.
Valuation Metrics
QRVO stock has a beta of 1.45. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.89 while the price-to-book (PB) in the most recent quarter is 2.42, with the price to cash flow ratio at 20.03.
Qorvo Inc’s quick ratio for the period ended June 29 was 1.83, with the current ratio over the same period at 3.27. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.54, while the total debt to equity was 0.54. In terms of profitability, the gross margin trailing 12 months is 38.04%. The trailing 12-month EBITDA margin is 18.75% while for the period ending June 29, Qorvo Inc’s operating margin was 6.07%. The firm’s gross profit as reported stood at $1.3 billion against revenue of $3.57 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 258.05% to -$43.58 million, while revenue of -$983.15 million was -2155.97% off the previous quarter. Analysts expected QRVO to announce $0.15 per share in earnings in its latest quarter, but it posted $0.34, representing a 126.70% surprise. EBITDA for the quarter stood at more than $32.88 million. QRVO stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 2.87 billion, with total debt at $2.05 billion. Shareholders hold equity totaling $97.91 million.
Let’s look briefly at Qorvo Inc (QRVO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 31.04% to suggest the stock is trending Neutral, with historical volatility in this time period at 19.38%.
The stock’s 5-day moving average is $95.28, reflecting a -1.88% or -$1.80 change from its current price. QRVO is currently trading -5.62% above its 20-day SMA, +1.39% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -11.92% and SMA200 by-3.52%.
Stochastic %K and %D was 6.13% and 10.16% and the average true range (ATR) pointed at 2.11. The RSI (14) points at 35.31%, while the 14-day stochastic is at 2.76% with the period’s ATR at 2.31. The stock’s 9-day MACD Oscillator is pointing at -0.62 and -2.94 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Qorvo Inc (NASDAQ: QRVO), Exane BNP Paribas upgraded it to an Outperform rating. They previously had a Neutral rating on the stock. Analysts offering their rating for QRVO stock have a consensus rating for the stock as Hold. Currently, 2 brokerage advisors rate QRVO as a “sell,”, while 20 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 2 rates the stock as overweight while 6 have offered a “buy” rating.
What is QRVO’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $95.00 and a high of $136.00, with their median price target at $114.45. Looking at these predictions, the average price target given by analysts is for Qorvo Inc (QRVO) stock is $115.64.
