Qorvo (QRVO) exceeds stock market gains: what you need to know
IIn the last trading session, Qorvo (QRVO) closed at $ 192.94, marking a movement of + 1.85% from the previous day. The stock topped the S&P 500 daily gain by 1.13%.
Prior to today, shares of the chipmaker had gained 3.57% over the past month, trailing the IT and tech sector gain of 4.4% and surpassing the S&P 500’s 2.39% gain. over this period.
Wall Street will research QRVO’s positivity as the date of its next earnings report approaches. In this report, analysts expect QRVO to post earnings of $ 2.45 per share. That would mark year-over-year growth of 63.33%. Meanwhile, Zacks’ consensus estimate for revenue projects net sales of $ 1.08 billion, up 37.21% from the previous year.
QRVO’s Zacks consensus estimates for the full year project earnings of $ 11.47 per share and revenue of $ 4.62 billion. These results would represent year-over-year variations of + 14.7% and + 14.94%, respectively.
Investors may also notice recent changes in analyst estimates for QRVO. Recent revisions tend to reflect the latest short-term business trends. Thus, the positive estimate revisions reflect the optimism of analysts about the business and profitability of the company.
Research indicates that these estimate revisions are directly correlated with short-term stock price dynamics. We have developed the Zacks Rank to capitalize on this phenomenon. Our system takes these rating changes into account and provides a clear and actionable scoring model.
Ranging from # 1 (strong buy) to # 5 (strong sell), the Zacks Rank system has a proven and externally audited track record of outperformance, with # 1 stocks returning an average of + 25% per year since 1988. In the past 30 days, our consensus projection of BPA has remained stagnant. QRVO currently has a Zacks rank of # 3 (Hold).
Digging into the valuation, QRVO currently has a forward P / E ratio of 16.52. Its industry has an average forward P / E of 18.08, so one could conclude that QRVO is trading at a comparatively discount.
Additionally, it should be mentioned that QRVO has a PEG ratio of 1.58. The PEG ratio is similar to the widely used P / E ratio, but this metric also takes into account the expected profit growth rate of the company. Semiconductors – Radio Frequency held an average PEG ratio of 1.29 at yesterday’s closing price.
The Semiconductors – Radiofrequency industry is part of the Information technology and technology sector. This industry currently has a Zacks Industry Rank of 123, which places it in the top 49% of all 250+ industries.
The Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and more, at Zacks.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.