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Qorvo (QRVO) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Qorvo (QRVO - Free Report) closed at $192.94, marking a +1.85% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.13%.
Heading into today, shares of the chipmaker had gained 3.57% over the past month, lagging the Computer and Technology sector's gain of 4.4% and outpacing the S&P 500's gain of 2.39% in that time.
Wall Street will be looking for positivity from QRVO as it approaches its next earnings report date. In that report, analysts expect QRVO to post earnings of $2.45 per share. This would mark year-over-year growth of 63.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.08 billion, up 37.21% from the year-ago period.
QRVO's full-year Zacks Consensus Estimates are calling for earnings of $11.47 per share and revenue of $4.62 billion. These results would represent year-over-year changes of +14.7% and +14.94%, respectively.
Investors might also notice recent changes to analyst estimates for QRVO. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QRVO currently has a Zacks Rank of #3 (Hold).
Digging into valuation, QRVO currently has a Forward P/E ratio of 16.52. Its industry sports an average Forward P/E of 18.08, so we one might conclude that QRVO is trading at a discount comparatively.
Also, we should mention that QRVO has a PEG ratio of 1.58. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductors - Radio Frequency was holding an average PEG ratio of 1.29 at yesterday's closing price.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Qorvo (QRVO) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Qorvo (QRVO - Free Report) closed at $192.94, marking a +1.85% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.13%.
Heading into today, shares of the chipmaker had gained 3.57% over the past month, lagging the Computer and Technology sector's gain of 4.4% and outpacing the S&P 500's gain of 2.39% in that time.
Wall Street will be looking for positivity from QRVO as it approaches its next earnings report date. In that report, analysts expect QRVO to post earnings of $2.45 per share. This would mark year-over-year growth of 63.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.08 billion, up 37.21% from the year-ago period.
QRVO's full-year Zacks Consensus Estimates are calling for earnings of $11.47 per share and revenue of $4.62 billion. These results would represent year-over-year changes of +14.7% and +14.94%, respectively.
Investors might also notice recent changes to analyst estimates for QRVO. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QRVO currently has a Zacks Rank of #3 (Hold).
Digging into valuation, QRVO currently has a Forward P/E ratio of 16.52. Its industry sports an average Forward P/E of 18.08, so we one might conclude that QRVO is trading at a discount comparatively.
Also, we should mention that QRVO has a PEG ratio of 1.58. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductors - Radio Frequency was holding an average PEG ratio of 1.29 at yesterday's closing price.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.