We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Qorvo (QRVO) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Qorvo (QRVO - Free Report) closed at $195.67, marking a +1.29% move from the previous day. This change outpaced the S&P 500's 0.75% gain on the day.
Heading into today, shares of the chipmaker had gained 6.75% over the past month, outpacing the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 2.91% in that time.
Investors will be hoping for strength from QRVO as it approaches its next earnings release. On that day, QRVO is projected to report earnings of $2.45 per share, which would represent year-over-year growth of 63.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.08 billion, up 37.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.47 per share and revenue of $4.62 billion, which would represent changes of +14.7% and +14.94%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for QRVO. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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).
Looking at its valuation, QRVO is holding a Forward P/E ratio of 16.85. This represents a discount compared to its industry's average Forward P/E of 18.35.
We can also see that QRVO currently has a PEG ratio of 1.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductors - Radio Frequency industry currently had an average PEG ratio of 1.31 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 235, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow QRVO in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Qorvo (QRVO) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Qorvo (QRVO - Free Report) closed at $195.67, marking a +1.29% move from the previous day. This change outpaced the S&P 500's 0.75% gain on the day.
Heading into today, shares of the chipmaker had gained 6.75% over the past month, outpacing the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 2.91% in that time.
Investors will be hoping for strength from QRVO as it approaches its next earnings release. On that day, QRVO is projected to report earnings of $2.45 per share, which would represent year-over-year growth of 63.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.08 billion, up 37.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.47 per share and revenue of $4.62 billion, which would represent changes of +14.7% and +14.94%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for QRVO. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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).
Looking at its valuation, QRVO is holding a Forward P/E ratio of 16.85. This represents a discount compared to its industry's average Forward P/E of 18.35.
We can also see that QRVO currently has a PEG ratio of 1.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductors - Radio Frequency industry currently had an average PEG ratio of 1.31 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 235, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow QRVO in the coming trading sessions, be sure to utilize Zacks.com.