Qorvo Inc (NASDAQ: QRVO) has reported earnings for its fourth fiscal quarter (ending March 31) of $0.03 versus a loss $-1.39 for the same period a year ago. This result fell short of the consensus estimate of $1.22 by $-1.19. For the latest four quarters through March 31, E.P.S. were $-0.72 versus $1.01 for the same period a year ago — a decline of -171%.
Recent Price Action
On 5/1/24, Qorvo Inc (NASDAQ: QRVO) stock declined by -4.2%, closing at $111.89. Moreover, exceptionally high trading volume at 255% of normal accompanied the decline. Relative to the market the stock has been strong over the last nine months and has risen 3.6% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, QRVO is expected to continue to be a major Value Builder.
Qorvo has a current Value Trend Rating of C (Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Qorvo has a slightly negative Appreciation Score of 35 but a good Power Rating of 75, producing the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
Be the first to comment