Qorvo's (QRVO) share prices have been volatile, experiencing some gains and a few underperforming days compared to its peers. Though encountering a 1.5% uptick post-earnings, the stock nosedived later. Analysts give mixed opinions, toggling between 'buy' and 'hold' ratings. Nomura Asset Management and Beacon Pointe Advisors have reportedly sold shares, while Principal Financial Group holds a $12.36 million stake in Qorvo. Qorvo reported strong revenues beating Q4 expectations, but weaker-than-expected guidance caused the stock to drop by 10.6%. Its fiscal full year 2024 earnings per share (EPS) fell short of expectations, yet Q4 EPS topped predictions by 18c. Amidst concerns of slowing mobile phone sales impacting their results, some suggest that Qorvo might be undervalued by 39%. The recent buyout of Anokiwave expanded Qorvo's RF portfolio. However, a lawsuit verdict against Akoustis incurred damages. Qorvo stock was also affected by weak guidance, despite surpassing estimates in Q2 earnings and revenues, and cultivating strong Q4 revenue growth. Notably, Qorvo's attainment of Anokiwave was a strategic move, potentially aiding in 5G technological transformation. Overall, the stock's performance elicited mixed reactions, with some analysts recommending it as a buy.
Qorvo QRVO News Analytics from Fri, 11 Aug 2023 07:00:00 GMT to Sun, 02 Jun 2024 17:16:00 GMT - Rating 0 - Innovation 2 - Information 5 - Rumor 0
