During the last session, Qorvo Inc. (NASDAQ:QRVO)’s traded shares were 0.94 million, with the beta value of the company hitting 1.36. At the end of the trading day, the stock’s price was $185.36, reflecting an intraday loss of -0.29% or -$0.54. The 52-week high for the QRVO share is $201.68, that puts it down -8.8 from that peak though still a striking 39.56% gain since the share price plummeted to a 52-week low of $112.03. The company’s market capitalization is $20.08B, and the average intraday trading volume over the past 10 days was 0.67 million shares, and the average trade volume was 825.31K shares over the past three months.
Qorvo Inc. (QRVO) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. QRVO has a Sell rating from 0 analyst(s) out of 26 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 15 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.45.
Qorvo Inc. (NASDAQ:QRVO) trade information
Qorvo Inc. (QRVO) registered a -0.29% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.29% in intraday trading to $185.36 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is -2.82%, and it has moved by -4.83% in 30 days. Based on these gigs, the overall price performance for the year is 52.64%. The short interest in Qorvo Inc. (NASDAQ:QRVO) is 2.33 million shares and it means that shorts have 2.47 day(s) to cover.
The consensus price target of analysts on Wall Street is $220.73, which implies an increase of 16.02% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $185.00 and $250.00 respectively. As a result, QRVO is trading at a discount of -34.87% off the target high and 0.19% off the low.
Qorvo Inc. (QRVO) estimates and forecasts
Statistics show that Qorvo Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Qorvo Inc. (QRVO) shares have gone up 13.79% during the last six months, with a year-to-date growth rate more than the industry average at 21.00% against 14.10. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 63.30% this quarter and then jump 33.70% in the quarter after that. In the rating firms’ projections, revenue will increase 18.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.11 billion as predicted by 20 analyst(s). Meanwhile, a consensus of 21 analyst(s) estimates revenue growth to $1.25 billion by the end of Sep 2021.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 101.40%. While earnings are projected to return 125.60% in 2021, the next five years will return 15.40% per annum.
Qorvo Inc. is due to release its next quarterly earnings between November 02 and November 08. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Qorvo Inc. (NASDAQ:QRVO)’s Major holders
Qorvo Inc. insiders own 0.47% of total outstanding shares while institutional holders control 86.88%, with the float percentage being 87.29%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,017 institutions own stock in it. As of Mar 30, 2021, the company held over 12.32 million shares (or 11.08% of all shares), a total value of $2.25 billion in shares.
The next largest institutional holding, with 9.5 million shares, is of Blackrock Inc.’s that is approximately 8.54% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $1.74 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Qorvo Inc. (QRVO) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Mar 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 3.2 million shares. This amounts to just over 2.87 percent of the company’s overall shares, with a $584.24 million market value. The same data shows that the other fund manager holds slightly less at 2.32 million, or about 2.08% of the stock, which is worth about $423.72 million.