TLDR
- Qorvo hit a new 52-week high of $114.28, trading up 6.8% to around $112.36
- Q1 EPS came in at $1.64 vs. the $1.11 consensus estimate, a $0.53 beat
- Revenue of $784.79 million topped the $743.28 million estimate, though it was down 4.2% year over year
- Analyst consensus remains “Hold” with an average price target of $94, well below current levels
- Insiders sold nearly 55,000 stock units worth around $5.46 million over the past three months
Qorvo (QRVO) hit a fresh 52-week high of $114.28 on Friday, with the stock last trading at $112.36, up 6.8% on the day. The previous close was $105.24, and trading volume reached over 2.25 million units.
The move came after Qorvo posted stronger-than-expected quarterly earnings. The company reported EPS of $1.64, beating the analyst consensus of $1.11 by $0.53. Revenue came in at $784.79 million, ahead of the $743.28 million estimate.
That said, revenue was down 4.2% compared to the same quarter last year. In the prior year period, the company posted EPS of $0.92, making the year-over-year earnings improvement clear.
Qorvo has set FY2027 guidance at $7.00 EPS. Analysts currently forecast $6.30 EPS for the current fiscal year.
The stock’s market cap now stands at around $9.91 billion. It’s trading well above its 50-day moving average of $93.27 and its 200-day moving average of $90.16.
Wall Street Remains Cautious
Despite the price surge, analyst sentiment hasn’t shifted much. Of the analysts covering the stock, three rate it a Buy, fourteen a Hold, and one a Sell. The consensus price target sits at $94.00, well below where the stock is currently trading.
UBS raised its target from $91 to $96 and holds a “Buy” rating. Citigroup cut its target from $100 to $95, keeping a “Neutral” rating. TD Cowen and Weiss Ratings both maintained “Hold” ratings following the last earnings cycle.
InvestingPro data suggests the stock may still be undervalued relative to its Fair Value, listing it among the platform’s most undervalued picks.
Insider Activity Worth Watching
Insider selling has picked up. CFO Grant Brown sold 5,179 units at an average of $97.50, totaling around $504,952. That sale reduced his position by 9.51%.
SVP Steven Creviston followed, selling 4,810 units at an average of $100.87, for a total of around $485,184. His position dropped by 3.87%.
In total, insiders have sold roughly 55,000 units worth $5.46 million over the last three months. Insiders now hold just 0.49% of the company.
On the institutional side, 88.57% of the stock is held by funds and institutions. Several have added to their positions recently, including Fred Alger Management and Fifth Third Wealth Advisors.
Qorvo’s debt-to-equity ratio is 0.45, with a current ratio of 3.54 and a quick ratio of 2.68. The price-to-earnings ratio stands at 26.07, with a PEG ratio of 1.86 and a beta of 1.45.
The 6-month price return is 34.63%, and the 1-year change stands at 24.51% as of the most recent data.
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