Qorvo is Approaching an Upside Target

Qorvo Inc.Qorvo Inc. (NASDAQ: QRVO) is a promising stock to watch in February, thanks to strong company earnings and a predicted upside. Investors looking for gains in today’s bull market can consider this pick.

Qorvo is a specialist technology company offering solutions for mobile infrastructure and aerospace applications. With cellular technology frequently advancing, especially with the nationwide rollout of 5G, Qorvo is in a good position to capitalize on institutional spending. The most recent earnings report reflects the company’s strength today. Earlier this month, the company reported quarterly earnings per share of $2.67, beating the average estimate of $1.86 per share. Revenue of $1.09 billion was a significant improvement over the $869.07 million reported in the year-ago period.

Earnings reports have now beat expectations in four of the previous consecutive quarters. Analysts expect that this momentum will create an upside for the stock as investors take note of the strong fiscal performance. An average target price of $196.10 per share suggests significant gains over the coming months.

Key Data:

  • 1 Year Price Growth: 15%
  • YTD Price Growth: 58%
  • 3 Month Price Growth: 18%

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