Qorvo Inc (NASDAQ: QRVO)’s stock price has soared by 2.14 in relation to previous closing price of 113.38. Nevertheless, the company has seen a gain of 2.49% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-01 that The accelerated deployment of 5G is enhancing the prospects of the Zacks Semiconductors – Radio Frequency industry players like Skyworks Solutions (SWKS) and Qorvo (QRVO) despite challenging macroeconomic conditions.
Is It Worth Investing in Qorvo Inc (NASDAQ: QRVO) Right Now?
The 36-month beta value for QRVO is also noteworthy at 1.56. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 1 rating it as “overweight,” 15 rating it as “hold,” and 1 rating it as “sell.”
The public float for QRVO is 95.89M, and at present, short sellers hold a 2.39% of that float. The average trading volume of QRVO on April 12, 2024 was 1.26M shares.
QRVO’s Market Performance
QRVO’s stock has seen a 2.49% increase for the week, with a -3.63% drop in the past month and a 10.83% gain in the past quarter. The volatility ratio for the week is 2.27%, and the volatility levels for the past 30 days are at 2.38% for Qorvo Inc The simple moving average for the last 20 days is 1.68% for QRVO’s stock, with a simple moving average of 12.13% for the last 200 days.
Analysts’ Opinion of QRVO
Many brokerage firms have already submitted their reports for QRVO stocks, with Craig Hallum repeating the rating for QRVO by listing it as a “Buy.” The predicted price for QRVO in the upcoming period, according to Craig Hallum is $125 based on the research report published on February 01, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see QRVO reach a price target of $120. The rating they have provided for QRVO stocks is “Neutral” according to the report published on January 04th, 2024.
Morgan Stanley gave a rating of “Overweight” to QRVO, setting the target price at $134 in the report published on December 08th of the previous year.
QRVO Trading at 2.49% from the 50-Day Moving Average
After a stumble in the market that brought QRVO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.80% of loss for the given period.
Volatility was left at 2.38%, however, over the last 30 days, the volatility rate increased by 2.27%, as shares sank -0.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.51% upper at present.
During the last 5 trading sessions, QRVO rose by +2.49%, which changed the moving average for the period of 200-days by +17.25% in comparison to the 20-day moving average, which settled at $113.88. In addition, Qorvo Inc saw 2.84% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at QRVO starting from CREVISTON STEVEN E, who sale 3,000 shares at the price of $120.00 back on Mar 01 ’24. After this action, CREVISTON STEVEN E now owns 77,552 shares of Qorvo Inc, valued at $360,000 using the latest closing price.
Chesley Philip, the SVP, High Performance Analog of Qorvo Inc, sale 4,253 shares at $114.00 during a trade that took place back on Feb 15 ’24, which means that Chesley Philip is holding 25,286 shares at $484,842 based on the most recent closing price.
Stock Fundamentals for QRVO
Current profitability levels for the company are sitting at:
- -0.04 for the present operating margin
- 0.35 for the gross margin
The net margin for Qorvo Inc stands at -0.06. The total capital return value is set at -0.02. Equity return is now at value -5.42, with -3.07 for asset returns.
Based on Qorvo Inc (QRVO), the company’s capital structure generated 0.36 points at debt to capital in total, while cash flow to debt ratio is standing at 0.34. The debt to equity ratio resting at 0.56. The interest coverage ratio of the stock is -1.84.
Currently, EBITDA for the company is 193.09 million with net debt to EBITDA at -138.9. When we switch over and look at the enterprise to sales, we see a ratio of 3.51. The receivables turnover for the company is 6.73for trailing twelve months and the total asset turnover is 0.52. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.90.
Conclusion
In summary, Qorvo Inc (QRVO) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
