Loop Capital has recently initiated Qorvo Inc (QRVO) stock to Hold rating, as announced on November 12, 2024, according to Finviz. Earlier, on October 30, 2024, TD Cowen had reiterated the stock to Hold, setting a price target of $85 for QRVO stock. The Benchmark Company also reduced Hold rating. Additionally, Raymond James reduced Mkt Perform rating on October 30, 2024. Exane BNP Paribas analysts, in their report published on October 30, 2024, also reduced Neutral rating and set a price target of $80 for Qorvo Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Qorvo Inc (QRVO) Stock Trading Recap
On Tuesday, Qorvo Inc (QRVO) stock saw a modest uptick, ending the day at $72.82 which represents a slight increase of $0.91 or 1.27% from the prior close of $71.91. The stock opened at $72.4 and touched a low of $71.75 during the day, reaching a high of $73.03. The volume of shares traded was 3.11 million exceeding the average volume of 2.75 million.
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QRVO Stock Performance and Moving Averages
In recent trading, Qorvo Inc (QRVO) stock price has shown some volatility, fluctuating 0.94% over the last five trades and 5.44% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -42.35%, and it has plunged by -28.49% in the previous three months. Currently, QRVO is trading at 2.53%, 4.29%, and -26.10% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, QRVO, a Technology sector stock, is trading -44.41% below its 52-week high but remains 12.83% above its 52-week low. The Average True Range (ATR) (14 days) of 1.97 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Qorvo Inc’s Profitability and Valuation Ratios
Qorvo Inc’s profitability metrics reveal financial health. The company currently boasts an operating margin of 9.15% and a profit margin of -3.58%, with a gross margin of -42.35%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Qorvo Inc’s market capitalization stands at $6.88 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The forward P/E ratio, which uses projected earnings for the next financial year, is 12.23. Additionally, the Price-to-Sales Ratio is 1.74, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 2.02, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.78% of Qorvo Inc (QRVO)’s shares, while financial institutions hold 90.17%.
Notable insider trades include Chesley Philip, SVP, High Performance Analog at Qorvo Inc (QRVO), who sold 4045 shares on Dec 05 ’24, at $70.15 each, totaling $0.28 million. On Nov 15 ’24, Chesley Philip, SVP, High Performance Analog, sold 1565 shares for $65.63 each, amounting to $0.10 million. Additionally, on Aug 27 ’24, Nelson Roderick sold 2132 shares at $111.51 each, generating $0.24 million.