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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 $130.87, marking a +1.6% move from the previous day. This change outpaced the S&P 500's 1.17% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.18%.
Coming into today, shares of the chipmaker had lost 3.18% in the past month. In that same time, the Computer and Technology sector lost 1.7%, while the S&P 500 gained 0.88%.
Investors will be hoping for strength from Qorvo as it approaches its next earnings release. On that day, Qorvo is projected to report earnings of $2.94 per share, which would represent year-over-year growth of 7.3%. Meanwhile, our latest consensus estimate is calling for revenue of $1.15 billion, up 7.23% from the prior-year quarter.
QRVO's full-year Zacks Consensus Estimates are calling for earnings of $12.18 per share and revenue of $4.63 billion. These results would represent year-over-year changes of +21.8% and +15.31%, respectively.
Any recent changes to analyst estimates for Qorvo should also be noted by investors. These revisions help to show the ever-changing nature of 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Qorvo is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Qorvo has a Forward P/E ratio of 10.58 right now. This valuation marks a discount compared to its industry's average Forward P/E of 11.58.
It is also worth noting that QRVO currently has a PEG ratio of 1.05. 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. Semiconductors - Radio Frequency stocks are, on average, holding a PEG ratio of 0.96 based on yesterday's closing prices.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
Be sure to follow all of these stock-moving metrics, and many 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 $130.87, marking a +1.6% move from the previous day. This change outpaced the S&P 500's 1.17% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.18%.
Coming into today, shares of the chipmaker had lost 3.18% in the past month. In that same time, the Computer and Technology sector lost 1.7%, while the S&P 500 gained 0.88%.
Investors will be hoping for strength from Qorvo as it approaches its next earnings release. On that day, Qorvo is projected to report earnings of $2.94 per share, which would represent year-over-year growth of 7.3%. Meanwhile, our latest consensus estimate is calling for revenue of $1.15 billion, up 7.23% from the prior-year quarter.
QRVO's full-year Zacks Consensus Estimates are calling for earnings of $12.18 per share and revenue of $4.63 billion. These results would represent year-over-year changes of +21.8% and +15.31%, respectively.
Any recent changes to analyst estimates for Qorvo should also be noted by investors. These revisions help to show the ever-changing nature of 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Qorvo is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Qorvo has a Forward P/E ratio of 10.58 right now. This valuation marks a discount compared to its industry's average Forward P/E of 11.58.
It is also worth noting that QRVO currently has a PEG ratio of 1.05. 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. Semiconductors - Radio Frequency stocks are, on average, holding a PEG ratio of 0.96 based on yesterday's closing prices.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.