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Tuesday, December 5, 2023

Qorvo Inc (NASDAQ: QRVO) Could Achieve Gains In The Near Future

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. After-hours trades for Qorvo Inc (QRVO) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $1.18, or 1.34%, to $89.00. The Qorvo Inc has recorded 97,475 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Qorvo® Announces Fiscal 2024 Second Quarter Financial Results.

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Stocks Info

Qorvo Inc is listed on the NASDAQ in the Technology sector while operating in the Semiconductors industry. The current market capitalization of Qorvo Inc is $8.60B. A total of 1.9 million shares were traded on the day, compared to an average of 1.21M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, QRVO has seen 23 BUY and 30 SELL insider trades, representing the acquisition of 121,426 and the disposition of 63,303 shares. Over the last 12 months, there were 31 BUYs and 64 SELLs from insiders. Insiders purchased 245,976 shares during that period but sold 159,691.

In the most recent transaction, Harrison Gina sold 662 shares of QRVO for 106.95 per share on Sep 06. After the transaction, the VP and Corporate Controller now owns 19,161 company shares. In a previous transaction on Sep 06, Stewart Frank P. sold 500 shares at 107.00 per share. QRVO shares that SVP, Advanced Cellular owns now total 12,020.

Among the insiders who sold shares, Stewart Frank P. disposed of 500 shares on Sep 05 at a per-share price of $108.00. This resulted in the SVP, Advanced Cellular holding 12,520 shares of QRVO after the transaction. In another insider transaction, Nelson Roderick sold 2,067 shares at $106.60 per share on Aug 30. Company shares held by the Director now total 7,727.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for QRVO in the last 3 months, the mean price target is $113.44 with high estimates of $136.00 and low estimates of $78.00. In terms of 52-week highs and lows, QRVO has a high of $114.59 and a low of $79.75.

As of this writing, QRVO has an earnings estimate of $1.78 per share for the current quarter. EPS was calculated based on a consensus of 22 estimates, with a high estimate of $1.88 per share and a lower estimate of $1.74. The company reported an EPS of $0.26 in the last quarter, which was 100.00% higher than expectations of $0.13.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information. QRVO’s latest balance sheet shows that the firm has $972.59M in Cash & Short Term Investments as of fiscal 2022. There were $2.05B in debt and $675.13M in liabilities at the time. Its Book Value Per Share was $38.88, while its Total Shareholder’s Equity was $4.55B.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for QRVO is Buy with a score of 3.32.

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