Could Qorvo Inc See a Reversal After Today’s Strong Options Activity?

 Could Qorvo Inc See a Reversal After Today's Strong Options Activity?

In today’s session Qorvo Inc (QRVO) registered an unusually high (455) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious QRVO increase. With 455 contracts traded and 10824 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: QRVO161118C00055000 closed last at: $3.6 or 20% down. About 415,142 shares traded hands. Qorvo Inc (NASDAQ:QRVO) has risen 13.85% since March 2, 2016 and is uptrending. It has outperformed by 5.59% the S&P500.

Analysts await Qorvo Inc (NASDAQ:QRVO) to report earnings on November, 3. They expect $1.19 EPS, up 21.43% or $0.21 from last year’s $0.98 per share. QRVO’s profit will be $152.57M for 11.62 P/E if the $1.19 EPS becomes a reality. After $0.85 actual EPS reported by Qorvo Inc for the previous quarter, Wall Street now forecasts 40.00% EPS growth.

Qorvo Inc (NASDAQ:QRVO) Ratings Coverage

Out of 22 analysts covering Qorvo Inc (NASDAQ:QRVO), 14 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 64% are positive. $92 is the highest target while $42 is the lowest. The $62.61 average target is 13.20% above today’s ($55.31) stock price. Qorvo Inc has been the topic of 48 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Friday, January 8 the stock rating was maintained by Craig Hallum with “Buy”. Raymond James downgraded the stock to “Outperform” rating in Tuesday, April 19 report. On Friday, February 5 the stock rating was downgraded by Citigroup to “Sell”. The rating was initiated by Morgan Stanley with “Equal-Weight” on Monday, June 27. The firm has “Buy” rating by Mizuho given on Thursday, July 30. The firm earned “Buy” rating on Friday, January 8 by Needham. The firm earned “Outperform” rating on Friday, July 22 by Cowen & Co. The stock of Qorvo Inc (NASDAQ:QRVO) earned “Overweight” rating by Pacfic Crest on Monday, September 7. The rating was initiated by Citigroup on Thursday, October 1 with “Neutral”. Brean Capital maintained the stock with “Buy” rating in Monday, September 21 report.

According to Zacks Investment Research, “Qorvo, Inc. is a provider of technologies and RF solutions for mobile, infrastructure and aerospace/defence applications. The Company operates through two subsidiaries: RF Micro Devices, Inc. (RFMD) and TriQuint Semiconductor, Inc. (TriQuint). RFMD designs and manufactures radio frequency solutions. TriQuint designs, develops and manufactures active and passive technologies, including power amplifier, switch and filter modules for the mobile device, network infrastructure, and defence and aerospace markets. Its products are used for wireless communications applications such as cellular and PCS, cordless telephony, wireless LANs, industrial radios, wireless security and remote meter reading. Qorvo, Inc.is based in United States.”

Qorvo, Inc. is a provider of technologies and radio frequency solutions for mobile, infrastructure and defense and aerospace applications. The company has a market cap of $7.09 billion. The Firm designs, develops, makes and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs). It currently has negative earnings. The Company’s divisions include Mobile Products (MP) and Infrastructure and Defense Products (IDP).

QRVO Company Profile

Qorvo, Inc., incorporated on December 13, 2013, is a well-known provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Firm designs, develops, makes and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs). The Company’s divisions include Mobile Products (MP) and Infrastructure and Defense Products (IDP). The Firm operates design, sales and manufacturing facilities located throughout Asia, Europe and North America. The Company’s primary manufacturing facilities are located in North Carolina, Oregon, Texas and Florida, and its primary assembly and test facilities are located in China, Costa Rica and Texas.

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