Qorvo (QRVO) closed at $187.68 in the latest trading session, marking a -1.71% move from the prior day. This change lagged the S&P 500's daily loss of 0.75%.Heading into today, shares of the chipmaker had gained 5.31% over the past month, outpacing the Computer and Technology sector's gain of 3.03% and the S&P 500's gain of 2.74% in that time.Investors will be hoping for strength from QRVO as it approaches its next earnings release. In that report, analysts expect QRVO to post earnings of $2.45 per share. This would mark year-over-year growth of 63.33%. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, up 37.21% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.47 per share and revenue of $4.62 billion. These totals would mark changes of +14.7% and +14.94%, respectively, from last year.Investors should also note any recent changes to analyst estimates for QRVO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QRVO currently has a Zacks Rank of #3 (Hold).Investors should also note QRVO's current valuation metrics, including its Forward P/E ratio of 16.65. This represents a discount compared to its industry's average Forward P/E of 18.48.It is also worth noting that QRVO currently has a PEG ratio of 1.59. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QRVO's industry had an average PEG ratio of 1.3 as of yesterday's close.The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 123, putting it in the top 49% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Qorvo, Inc. (QRVO): Free Stock Analysis Report To read this article on Zacks.com click here.