Qorvo (QRVO) Outpaces Stock Market Gains: What You Should Know
Qorvo (QRVO) closed the most recent trading day at $170.26, moving +0.44% from the previous trading session.
Qorvo (QRVO) closed the most recent trading day at $170.26, moving +0.44% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.3%.
Prior to today's trading, shares of the chipmaker had lost 2.2% over the past month. This has lagged the Computer and Technology sector's gain of 1.79% and the S&P 500's gain of 4.28% in that time.
QRVO will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2021. The company is expected to report EPS of $3.25, up 33.74% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, up 17.94% from the year-ago period.
QRVO's full-year Zacks Consensus Estimates are calling for earnings of $12.10 per share and revenue of $4.75 billion. These results would represent year-over-year changes of +21% and +18.25%, respectively.
Investors might also notice recent changes to analyst estimates for QRVO. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. QRVO is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that QRVO has a Forward P/E ratio of 14.01 right now. Its industry sports an average Forward P/E of 14.22, so we one might conclude that QRVO is trading at a discount comparatively.
It is also worth noting that QRVO currently has a PEG ratio of 1.1. 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. QRVO's industry had an average PEG ratio of 0.88 as of yesterday's close.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 13% 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, Inc. (QRVO): Free Stock Analysis Report
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