Qorvo reported its fiscal fourth quarter bottom-line that exceeded analysts’ expectations.
The radio frequency device chipmaker reported earnings of $1.22 per share for the quarter, compared to analysts’ estimates of $1.05 per share (based on FactSet data).
Revenue of $681 million also surpassed analysts’ estimates of $670.6 million.
For the current quarter, the company predicts earnings of $1.30 per share on revenue between $780 million and $800 million – both of which are higher than analysts’ expectations of $1.05 earnings per share on revenue of $690.1 million.
On May 6, Qorvo announced the completion of its acquisition of power management company Active-Semi International.
QRVO saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on April 12, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 50 instances where the indicator turned negative. In of the 50 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
The Momentum Indicator moved below the 0 level on April 12, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on QRVO as a result. In of 95 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
QRVO moved below its 50-day moving average on April 12, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for QRVO crossed bearishly below the 50-day moving average on April 16, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 12 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where QRVO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for QRVO entered a downward trend on April 23, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where QRVO's RSI Indicator exited the oversold zone, of 28 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where QRVO advanced for three days, in of 305 cases, the price rose further within the following month. The odds of a continued upward trend are .
QRVO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. QRVO’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 63, placing this stock slightly worse than average.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.865) is normal, around the industry mean (6.442). P/E Ratio (0.000) is within average values for comparable stocks, (112.323). QRVO's Projected Growth (PEG Ratio) (0.454) is slightly lower than the industry average of (2.518). QRVO has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.021). P/S Ratio (3.076) is also within normal values, averaging (34.699).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of radio frequency, analog, and mixed signal integrated circuits
Industry Semiconductors