Qorvo Inc (NASDAQ: QRVO)’s stock price has soared by 0.56 in relation to previous closing price of 66.28. Nevertheless, the company has seen a gain of 1.60% in its stock price over the last five trading days. https://thefly.com reported 2024-11-11 that Loop Capital analyst Gary Mobley initiated coverage of Qorvo with a Hold rating and $73 price target. For the past few years, Qorvo and smartphone chip peers have been consensus shorts, and these shorts have been rewarded, the analyst tells investors in a research note. Against this backdrop, the firm believes Qorvo should continue to face near-term headwinds from the changing market dynamics in the Android smartphone market, particularly in the China Android market.
Is It Worth Investing in Qorvo Inc (NASDAQ: QRVO) Right Now?
The 36-month beta value for QRVO is at 1.43. Analysts have varying views on the stock, with 7 analysts rating it as a “buy,” 2 rating it as “overweight,” 18 as “hold,” and 1 as “sell.”
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The public float for QRVO is 93.78M, and currently, shorts hold a 3.12% of that float. The average trading volume for QRVO on November 20, 2024 was 1.57M shares.
QRVO’s Market Performance
The stock of Qorvo Inc (QRVO) has seen a 1.60% increase in the past week, with a -33.88% drop in the past month, and a -39.65% fall in the past quarter. The volatility ratio for the week is 1.85%, and the volatility levels for the past 30 days are at 2.76% for QRVO. The simple moving average for the past 20 days is -11.53% for QRVO’s stock, with a -37.26% simple moving average for the past 200 days.
Analysts’ Opinion of QRVO
Many brokerage firms have already submitted their reports for QRVO stocks, with Loop Capital repeating the rating for QRVO by listing it as a “Hold.” The predicted price for QRVO in the upcoming period, according to Loop Capital is $73 based on the research report published on November 12, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see QRVO reach a price target of $85, previously predicting the price at $125. The rating they have provided for QRVO stocks is “Hold” according to the report published on October 30th, 2024.
QRVO Trading at -27.26% 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 -49.12% of loss for the given period.
Volatility was left at 2.76%, however, over the last 30 days, the volatility rate increased by 1.85%, as shares sank -33.09% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -37.42% lower at present.
During the last 5 trading sessions, QRVO rose by +2.24%, which changed the moving average for the period of 200-days by -38.25% in comparison to the 20-day moving average, which settled at $75.35. In addition, Qorvo Inc saw -40.81% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at QRVO starting from Chesley Philip, who sale 1,565 shares at the price of $65.63 back on Nov 15 ’24. After this action, Chesley Philip now owns 34,306 shares of Qorvo Inc, valued at $102,711 using the latest closing price.
Chesley Philip, the Officer of Qorvo Inc, proposed sale 1,565 shares at $65.63 during a trade that took place back on Nov 15 ’24, which means that Chesley Philip is holding shares at $102,711 based on the most recent closing price.
Stock Fundamentals for QRVO
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.4 for the gross margin
The net margin for Qorvo Inc stands at -0.04. The total capital return value is set at 0.02. Equity return is now at value -3.91, with -2.14 for asset returns.
Based on Qorvo Inc (QRVO), the company’s capital structure generated 0.37 points at debt to capital in total, while cash flow to debt ratio is standing at 0.46. The debt to equity ratio resting at 0.58. The interest coverage ratio of the stock is 1.13.
Currently, EBITDA for the company is 463.74 million with net debt to EBITDA at 2.33. When we switch over and look at the enterprise to sales, we see a ratio of 1.81. The receivables turnover for the company is 6.65for trailing twelve months and the total asset turnover is 0.61. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.90.
Conclusion
In conclusion, Qorvo Inc (QRVO) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
