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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 $113.59, marking a -1.88% move from the previous day. This change lagged the S&P 500's daily loss of 1.48%. At the same time, the Dow lost 1.05%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the chipmaker had lost 7.87% in the past month. In that same time, the Computer and Technology sector lost 5.18%, while the S&P 500 gained 0.08%.
Wall Street will be looking for positivity from Qorvo as it approaches its next earnings report date. This is expected to be May 4, 2022. On that day, Qorvo is projected to report earnings of $2.94 per share, which would represent year-over-year growth of 7.3%. Our most recent consensus estimate is calling for quarterly revenue of $1.15 billion, up 7.23% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Qorvo. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 1.32% lower. Qorvo currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Qorvo is holding a Forward P/E ratio of 9.01. Its industry sports an average Forward P/E of 10.59, so we one might conclude that Qorvo is trading at a discount comparatively.
Also, we should mention that QRVO has a PEG ratio of 0.9. 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 0.86 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 187, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 $113.59, marking a -1.88% move from the previous day. This change lagged the S&P 500's daily loss of 1.48%. At the same time, the Dow lost 1.05%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the chipmaker had lost 7.87% in the past month. In that same time, the Computer and Technology sector lost 5.18%, while the S&P 500 gained 0.08%.
Wall Street will be looking for positivity from Qorvo as it approaches its next earnings report date. This is expected to be May 4, 2022. On that day, Qorvo is projected to report earnings of $2.94 per share, which would represent year-over-year growth of 7.3%. Our most recent consensus estimate is calling for quarterly revenue of $1.15 billion, up 7.23% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Qorvo. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 1.32% lower. Qorvo currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Qorvo is holding a Forward P/E ratio of 9.01. Its industry sports an average Forward P/E of 10.59, so we one might conclude that Qorvo is trading at a discount comparatively.
Also, we should mention that QRVO has a PEG ratio of 0.9. 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 0.86 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 187, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.