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Qorvo (QRVO) Dips More Than Broader Markets: What You Should Know

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·3 min read
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Qorvo (QRVO) closed the most recent trading day at $171.47, moving -6.9% from the previous trading session. This change lagged the S&P 500's daily loss of 1.04%.

Coming into today, shares of the chipmaker had lost 4.83% in the past month. In that same time, the Computer and Technology sector gained 3.67%, while the S&P 500 gained 3.83%.

The company is expected to report EPS of $2.23, up 48.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.08 billion, up 37.23% from the year-ago period.

QRVO's full-year Zacks Consensus Estimates are calling for earnings of $10.87 per share and revenue of $4.57 billion. These results would represent year-over-year changes of +8.7% and +13.78%, respectively.

It is also important to note the recent changes to analyst estimates for QRVO. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QRVO is currently sporting a Zacks Rank of #2 (Buy).

Investors should also note QRVO's current valuation metrics, including its Forward P/E ratio of 16.95. This represents a discount compared to its industry's average Forward P/E of 16.96.

We can also see that QRVO currently has a PEG ratio of 1.21. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QRVO's industry had an average PEG ratio of 1.07 as of yesterday's close.

The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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