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Qorvo (QRVO) Gains As Market Dips: What You Should Know

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Qorvo (QRVO - Free Report) closed at $133.64 in the latest trading session, marking a +0.14% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 0.05%.

Prior to today's trading, shares of the chipmaker had lost 14.7% over the past month. This has lagged the Computer and Technology sector's loss of 14.1% and the S&P 500's loss of 7.66% in that time.

Qorvo will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2022. In that report, analysts expect Qorvo to post earnings of $2.75 per share. This would mark 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.

QRVO's full-year Zacks Consensus Estimates are calling for earnings of $11.87 per share and revenue of $4.62 billion. These results would represent year-over-year changes of +18.7% and +15.02%, respectively.

Investors should also note any recent changes to analyst estimates for Qorvo. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. 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 11.24 right now. This represents a discount compared to its industry's average Forward P/E of 12.02.

It is also worth noting that QRVO currently has a PEG ratio of 0.92. 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. Semiconductors - Radio Frequency stocks are, on average, holding a PEG ratio of 0.92 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 105, putting it in the top 42% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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