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Qorvo (QRVO) Surges 3.6%: Is This an Indication of Further Gains?
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Qorvo (QRVO - Free Report) shares rallied 3.6% in the last trading session to close at $101.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.5% loss over the past four weeks.
The uptrend was largely buoyed by the positive response of the exchange offers by Skyworks for Qorvo’s Senior Notes due 2029 and 2031. The debt offering is related to the proposed acquisition of Qorvo by Skyworks. It helped to clear a major hurdle for the transaction to close by early 2027.
This chipmaker is expected to post quarterly earnings of $1.10 per share in its upcoming report, which represents a year-over-year change of +19.6%. Revenues are expected to be $738.71 million, down 9.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Qorvo, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on QRVO going forward to see if this recent jump can turn into more strength down the road.
Qorvo is a member of the Zacks Semiconductors - Radio Frequency industry. One other stock in the same industry, Skyworks Solutions (SWKS - Free Report) , finished the last trading session 5.1% higher at $76.18. SWKS has returned -12.1% over the past month.
For Skyworks, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.03. This represents a change of -22.6% from what the company reported a year ago. Skyworks currently has a Zacks Rank of #3 (Hold).
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Qorvo (QRVO) Surges 3.6%: Is This an Indication of Further Gains?
Qorvo (QRVO - Free Report) shares rallied 3.6% in the last trading session to close at $101.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.5% loss over the past four weeks.
The uptrend was largely buoyed by the positive response of the exchange offers by Skyworks for Qorvo’s Senior Notes due 2029 and 2031. The debt offering is related to the proposed acquisition of Qorvo by Skyworks. It helped to clear a major hurdle for the transaction to close by early 2027.
This chipmaker is expected to post quarterly earnings of $1.10 per share in its upcoming report, which represents a year-over-year change of +19.6%. Revenues are expected to be $738.71 million, down 9.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Qorvo, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on QRVO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Qorvo is a member of the Zacks Semiconductors - Radio Frequency industry. One other stock in the same industry, Skyworks Solutions (SWKS - Free Report) , finished the last trading session 5.1% higher at $76.18. SWKS has returned -12.1% over the past month.
For Skyworks, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.03. This represents a change of -22.6% from what the company reported a year ago. Skyworks currently has a Zacks Rank of #3 (Hold).