Qorvo (QRVO - Free Report) closed at $168.23 in the latest trading session, marking a -0.41% move from the prior day. This change lagged the S&P 500's daily gain of 0.2%.
Coming into today, shares of the chipmaker had gained 1.04% in the past month. In that same time, the Computer and Technology sector gained 4.44%, while the S&P 500 gained 5.66%.
Investors will be hoping for strength from QRVO as it approaches its next earnings release, which is expected to be November 3, 2021. On that day, QRVO is projected to report earnings of $3.25 per share, which would represent year-over-year growth of 33.74%. Our most recent consensus estimate is calling for quarterly revenue of $1.25 billion, up 17.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.10 per share and revenue of $4.75 billion, which would represent changes of +21% and +18.25%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for QRVO. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. QRVO is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note QRVO's current valuation metrics, including its Forward P/E ratio of 13.96. Its industry sports an average Forward P/E of 14.58, so we one might conclude that QRVO is trading at a discount comparatively.
We can also see that QRVO currently has a PEG ratio of 1.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Semiconductors - Radio Frequency stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow QRVO in the coming trading sessions, be sure to utilize Zacks.com.
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History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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Qorvo (QRVO - Free Report) closed at $168.23 in the latest trading session, marking a -0.41% move from the prior day. This change lagged the S&P 500's daily gain of 0.2%.
Coming into today, shares of the chipmaker had gained 1.04% in the past month. In that same time, the Computer and Technology sector gained 4.44%, while the S&P 500 gained 5.66%.
Investors will be hoping for strength from QRVO as it approaches its next earnings release, which is expected to be November 3, 2021. On that day, QRVO is projected to report earnings of $3.25 per share, which would represent year-over-year growth of 33.74%. Our most recent consensus estimate is calling for quarterly revenue of $1.25 billion, up 17.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.10 per share and revenue of $4.75 billion, which would represent changes of +21% and +18.25%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for QRVO. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. QRVO is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note QRVO's current valuation metrics, including its Forward P/E ratio of 13.96. Its industry sports an average Forward P/E of 14.58, so we one might conclude that QRVO is trading at a discount comparatively.
We can also see that QRVO currently has a PEG ratio of 1.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Semiconductors - Radio Frequency stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow QRVO in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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