In today’s recent session, 4.76 million shares of the Qorvo Inc (NASDAQ:QRVO) have been traded, and its beta is 1.45. Most recently the company’s share price was $75.71, and it changed around -$24.77 or -24.65% from the last close, which brings the market valuation of the company to $7.18B. QRVO at last check was trading at a discount to its 52-week high of $130.99, offering almost -73.02% off that amount. The share price’s 52-week low was $80.62, which indicates that the recent value has fallen by an impressive -6.49% since then. We note from Qorvo Inc’s average daily trading volume that its 10-day average is 1.23 million shares, with the 3-month average coming to 1.38 million.

Qorvo Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.93. If we narrow it down even further, the data shows that 1 out of 24 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 15 recommended QRVO as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Qorvo Inc is expected to report earnings per share of 1.92 for the current quarter.

Qorvo Inc (NASDAQ:QRVO) trade information

Instantly QRVO has been showing red trend so far today with a performance of -24.65% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 101.26 on recent trading dayincreased the stock’s daily price by 25.23%. The company’s shares are currently down -32.77% year-to-date, but still down -24.47% over the last five days. On the other hand, Qorvo Inc (NASDAQ:QRVO) is -24.12% down in the 30-day period. We can see from the shorts that 3.02 million shares have been sold at a short interest cover period of 2.14 day(s).

The consensus price target as assigned by Wall Street analysts is $110, which translates to bulls needing to increase their stock price by 31.17% from its current value. Analyst projections state that QRVO is forecast to be at a low of $80 and a high of $230.

Qorvo Inc (QRVO) estimates and forecasts

Qorvo Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -32.34 percent over the past six months and at a -2.09% annual growth rate that is well above the industry average of -17.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -8.60% in revenue this quarter, and will report an increase of 5.80% in the next quarter. The year-over-year growth rate is expected to be 4.60%, up from the previous year.

Consensus estimates provided by 20 financial analysts predict the company will bring in an average of 1.06B in revenue for the current quarter. 20 analysts expect Qorvo Inc to make 968.58M in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 2.90%.

Qorvo Inc earnings are expected to increase by -18.49% in 2024, but the outlook is positive 20.00% per year for the next five years.

QRVO Dividends

Qorvo Inc’s next quarterly earnings report is expected to be released on 2025-Jan-29.

Qorvo Inc (NASDAQ:QRVO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.48% of Qorvo Inc shares, and 93.29% of them are in the hands of institutional investors. The stock currently has a share float of 93.74%. Qorvo Inc stock is held by 844.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 12.135% of the shares, which is about 11.84 million shares worth $1.37 billion.

BLACKROCK INC., with 9.7723% or 9.53 million shares worth $1.11 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.