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Qorvo (QRVO) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Qorvo (QRVO - Free Report) closed at $159.56, marking a -1.12% move from the previous day. This move lagged the S&P 500's daily loss of 0.72%.
Prior to today's trading, shares of the chipmaker had gained 4.6% over the past month. This has outpaced the Computer and Technology sector's loss of 0.64% and the S&P 500's gain of 0.11% in that time.
Qorvo will be looking to display strength as it nears its next earnings release. On that day, Qorvo is projected to report earnings of $2.75 per share, which would represent a year-over-year decline of 10.71%. Our most recent consensus estimate is calling for quarterly revenue of $1.11 billion, up 1.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.87 per share and revenue of $4.62 billion. These totals would mark changes of +18.7% and +15.02%, respectively, from last year.
Any recent changes to analyst estimates for Qorvo should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Qorvo currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Qorvo has a Forward P/E ratio of 13.6 right now. This represents a discount compared to its industry's average Forward P/E of 13.8.
Also, we should mention that QRVO has a PEG ratio of 1.11. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductors - Radio Frequency was holding an average PEG ratio of 1.07 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 244, which puts it in the bottom 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Qorvo (QRVO) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Qorvo (QRVO - Free Report) closed at $159.56, marking a -1.12% move from the previous day. This move lagged the S&P 500's daily loss of 0.72%.
Prior to today's trading, shares of the chipmaker had gained 4.6% over the past month. This has outpaced the Computer and Technology sector's loss of 0.64% and the S&P 500's gain of 0.11% in that time.
Qorvo will be looking to display strength as it nears its next earnings release. On that day, Qorvo is projected to report earnings of $2.75 per share, which would represent a year-over-year decline of 10.71%. Our most recent consensus estimate is calling for quarterly revenue of $1.11 billion, up 1.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.87 per share and revenue of $4.62 billion. These totals would mark changes of +18.7% and +15.02%, respectively, from last year.
Any recent changes to analyst estimates for Qorvo should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Qorvo currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Qorvo has a Forward P/E ratio of 13.6 right now. This represents a discount compared to its industry's average Forward P/E of 13.8.
Also, we should mention that QRVO has a PEG ratio of 1.11. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductors - Radio Frequency was holding an average PEG ratio of 1.07 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 244, which puts it in the bottom 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.