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Qorvo (QRVO) Outpaces Stock Market Gains: What You Should Know
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Qorvo (QRVO - Free Report) closed at $183.31 in the latest trading session, marking a +0.22% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.2%.
Coming into today, shares of the chipmaker had gained 9.63% in the past month. In that same time, the Computer and Technology sector gained 5.84%, while the S&P 500 gained 1.06%.
QRVO will be looking to display strength as it nears its next earnings release. On that day, QRVO is projected to report earnings of $2.45 per share, which would represent year-over-year growth of 63.33%. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, up 37.21% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.47 per share and revenue of $4.62 billion. These totals would mark changes of +14.7% and +14.94%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for QRVO. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QRVO is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note QRVO's current valuation metrics, including its Forward P/E ratio of 15.95. Its industry sports an average Forward P/E of 16.45, 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 1.52. 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. The Semiconductors - Radio Frequency was holding an average PEG ratio of 1.21 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 197, which puts it in the bottom 23% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Qorvo (QRVO) Outpaces Stock Market Gains: What You Should Know
Qorvo (QRVO - Free Report) closed at $183.31 in the latest trading session, marking a +0.22% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.2%.
Coming into today, shares of the chipmaker had gained 9.63% in the past month. In that same time, the Computer and Technology sector gained 5.84%, while the S&P 500 gained 1.06%.
QRVO will be looking to display strength as it nears its next earnings release. On that day, QRVO is projected to report earnings of $2.45 per share, which would represent year-over-year growth of 63.33%. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, up 37.21% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.47 per share and revenue of $4.62 billion. These totals would mark changes of +14.7% and +14.94%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for QRVO. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QRVO is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note QRVO's current valuation metrics, including its Forward P/E ratio of 15.95. Its industry sports an average Forward P/E of 16.45, 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 1.52. 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. The Semiconductors - Radio Frequency was holding an average PEG ratio of 1.21 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 197, which puts it in the bottom 23% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.