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Qorvo (QRVO) Stock Moves -0.01%: What You Should Know

In the latest trading session, Qorvo (QRVO) closed at $165.27, marking a -0.01% move from the previous day.

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This story originally appeared on Zacks

In the latest trading session, Qorvo (QRVO) closed at $165.27, marking a -0.01% move from the previous day. This change was narrower than the S&P 500's 0.51% loss on the day.

- Zacks

Prior to today's trading, shares of the chipmaker had lost 3.58% over the past month. This has lagged the Computer and Technology sector's loss of 1.72% and the S&P 500's gain of 3.08% in that time.

Investors will be hoping for strength from QRVO as it approaches its next earnings release, which is expected to be November 3, 2021. On that day, QRVO is projected to report earnings of $3.25 per share, which would represent year-over-year growth of 33.74%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, up 17.94% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.10 per share and revenue of $4.75 billion. These totals would mark changes of +21% and +18.25%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for QRVO. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. 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 13.66 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.11.

Meanwhile, QRVO's PEG ratio is currently 1.07. 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 0.86 as of yesterday's close.

The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 13% 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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