Want to see QRVO full AI Analyst Report?
Top Page
Qorvo
(NASDAQ:QRVO)
Select Model
Select Model
Rating:64Neutral
Price Target:
$91.00
▲(11.11% Upside)
Action:Reiterated
Date:06/12/26
The score is driven primarily by solid cash generation and a manageable balance sheet, alongside a meaningful rebound in profitability. Offsetting this are a mixed near-term technical picture and a valuation that looks demanding relative to recent flat-to-down revenue trends; corporate events provide a modest positive tailwind via improved deal execution visibility.
Positive Factors
Strong cash generation
High and consistent operating and free cash flow provides durable financial flexibility. Strong cash conversion funds R&D, capex, integration costs, and debt reduction without relying on external financing, helping Qorvo navigate semiconductor cycles and support strategic investments over the next 2–6 months and beyond.
Negative Factors
Multi-year revenue stagnation
Sustained flat or declining revenue reduces operating leverage and limits long-term EBITDA growth. Without a clear trend reversal, margin gains may be harder to sustain, R&D returns may be compressed, and the company remains exposed to secular demand shifts in key end markets like smartphones and infrastructure.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
High and consistent operating and free cash flow provides durable financial flexibility. Strong cash conversion funds R&D, capex, integration costs, and debt reduction without relying on external financing, helping Qorvo navigate semiconductor cycles and support strategic investments over the next 2–6 months and beyond.
Read all positive factors
Qorvo Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales across Qorvo’s segments (for example mobile, infrastructure, and defense), showing where growth is coming from and how dependent the company is on specific end markets like smartphones or 5G equipment. Useful for spotting concentration risk, timing of product cycles, and opportunities from new design wins or market expansion.
Breaks down sales across Qorvo’s segments (for example mobile, infrastructure, and defense), showing where growth is coming from and how dependent the company is on specific end markets like smartphones or 5G equipment. Useful for spotting concentration risk, timing of product cycles, and opportunities from new design wins or market expansion.
Data provided by:
The Fly
The FlyQorvo (QRVO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.54B
Dividend YieldN/A
Average Volume (3M)1.24M
Price to Earnings (P/E)23.4
Beta (1Y)1.51
Revenue Growth-1.09%
EPS Growth515.86%
CountryUS
Employees5,200
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)3.66
Shares Outstanding88,218,000
10 Day Avg. Volume872,674
30 Day Avg. Volume1,236,757
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)2.14
Price to Sales (P/S)1.95
P/FCF Ratio10.54
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$93.56Price Target Upside14.23% Upside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)6.83
Revenue Forecast (FY)$3.44B
Qorvo Business Overview & Revenue Model
Company Description
Qorvo, Inc. is a global technology company focused on developing and bringing to market a diverse range of products and innovations for the wireless, wired, and power sectors. Its operations are organized into two primary divisions: Mobile Product...
How the Company Makes Money
Qorvo makes money primarily by selling semiconductor devices and modules to original equipment manufacturers (OEMs), contract manufacturers, and network/industrial customers, recognizing revenue when products are shipped/accepted under customer te...
Qorvo Earnings Call Summary
Earnings Call Date:Jan 27, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call balances clear operational and financial progress — strong Q3 revenue, notable margin expansion (≈+260 bps YoY), solid free cash flow, strategic product wins (iPad high-band pad, automotive UWB, Wi‑Fi 8 samples), and actions to improve capital intensity — against meaningful near-term top-line headwinds driven by an intentional exit from lower-margin Android mass-tier (~$300M FY2027 impact), loss of share in some ultra-high band sockets, and a mid-single-digit revenue decline forecast for FY2027. Management emphasizes a portfolio shift toward higher-margin HPA and defense markets and targets full-year gross margins above 50% and EPS approaching $7, indicating confidence in improved profitability despite lower revenue. Overall, the positives around margin improvement, cash generation, and strategic repositioning outweigh the near-term revenue declines.Positive Updates
Strong Q3 Financial Performance
Q3 revenue of $993M, non-GAAP gross margin of 49.1%, and non-GAAP diluted EPS of $2.17 — all above guidance.
Negative Updates
Android Revenue Decline and Strategic Exit
Android revenue declined sequentially in December by the low double digits and management expects Android revenue to decline approximately $300M in fiscal 2027 versus fiscal 2026 as they reduce exposure to lower-margin mass-tier Android.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Q3 Financial Performance
Q3 revenue of $993M, non-GAAP gross margin of 49.1%, and non-GAAP diluted EPS of $2.17 — all above guidance.
Read all positive updates
Company Guidance
Qorvo guided March (fiscal Q4) revenue of $800M ± $25M, non‑GAAP gross margin of 48–49%, non‑GAAP diluted EPS of $1.20 ± $0.15, non‑GAAP operating expenses of $240–250M, non‑operating expense of $8–10M, and a fiscal ’26 non‑GAAP tax rate of ~15%. For full fiscal 2027 the company expects a mid‑single‑digit decline in revenue, Android revenue to fall by roughly $300M versus fiscal 2026, CSG to be approximately flat, HPA to grow in the double digits, and DNA market sales of about $500M; management is targeting full‑year gross margins above 50% and EPS approaching $7.0. For context, fiscal Q3 results were revenue $993M, non‑GAAP gross margin 49.1% (up ~260 bps YoY), non‑GAAP diluted EPS $2.17, largest customer ≈53% of revenue, cash & equivalents ≈$1.3B, long‑term debt ≈$1.5B, net inventory $530M (down $75M sequential, $111M YoY), operating cash flow ≈$265M, capex $28M, and free cash flow $237M.Qorvo Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
63
Positive
Cash Flow
76
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.68B | 3.72B | 3.77B | 3.57B | 4.65B |
| Gross Profit | 1.69B | 1.54B | 1.49B | 1.30B | 2.29B |
| EBITDA | 730.05M | 441.06M | 463.74M | 531.94M | 1.61B |
| Net Income | 338.99M | 55.62M | -70.32M | 103.15M | 1.03B |
Balance Sheet | |||||
| Total Assets | 5.83B | 5.93B | 6.55B | 6.69B | 7.51B |
| Cash, Cash Equivalents and Short-Term Investments | 1.22B | 1.02B | 1.03B | 808.76M | 972.59M |
| Total Debt | 1.55B | 1.55B | 1.99B | 2.05B | 2.05B |
| Total Liabilities | 2.48B | 2.54B | 3.00B | 2.79B | 2.96B |
| Stockholders Equity | 3.34B | 3.39B | 3.56B | 3.90B | 4.55B |
Cash Flow | |||||
| Free Cash Flow | 679.56M | 484.60M | 705.96M | 684.28M | 835.78M |
| Operating Cash Flow | 808.63M | 622.20M | 833.19M | 843.23M | 1.05B |
| Investing Cash Flow | -43.60M | 36.55M | -136.47M | -153.41M | -595.96M |
| Financing Cash Flow | -566.53M | -684.36M | -459.57M | -853.35M | -875.51M |
Qorvo Technical Analysis
Negative
81.90
Price Trends
94.59
Negative
88.06
Negative
87.09
Negative
Market Momentum
-3.45
Positive
40.29
Neutral
38.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QRVO, the sentiment is Negative. The current price of 81.9 is below the 20-day moving average (MA) of 89.92, below the 50-day MA of 94.59, and below the 200-day MA of 87.09, indicating a bearish trend. The MACD of -3.45 indicates Positive momentum. The RSI at 40.29 is Neutral, neither overbought nor oversold. The STOCH value of 38.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QRVO.
Qorvo Risk Analysis
Qorvo disclosed 42 risk factors in its most recent earnings report. Qorvo reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Qorvo Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $17.16B | 859.51 | 2.79% | ― | 17.45% | -61.07% | |
74 Outperform | $10.97B | 47.62 | 17.44% | ― | 19.12% | 10.38% | |
72 Outperform | $20.40B | 112.81 | 13.19% | ― | 27.05% | ― | |
66 Neutral | $13.90B | 51.72 | 21.21% | ― | 21.32% | 19.06% | |
64 Neutral | $7.54B | 23.36 | 9.69% | ― | -1.09% | 515.86% | |
63 Neutral | $8.93B | 24.52 | 6.30% | 4.37% | 2.33% | -6.12% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
QRVO
Qorvo
85.50
-2.43
-2.76%
LSCC
Lattice Semiconductor
125.23
73.08
140.13%
MTSI
MACOM Technology Solutions Holdings
267.36
126.78
90.18%
NVMI
Nova
437.46
152.54
53.54%
RMBS
Rambus
101.44
32.53
47.21%
SWKS
Skyworks Solutions
59.35
-11.04
-15.69%
Qorvo Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Qorvo Advances Toward Skyworks Acquisition with Note Amendments
Positive
Jun 12, 2026
Qorvo has entered into a complex merger structure with Skyworks Solutions, under which Comet Acquisition Corp. will merge into Qorvo and, in a second step, Qorvo will merge into another Skyworks subsidiary, leaving the combined entity as a wholly ...
Business Operations and StrategyExecutive/Board ChangesM&A TransactionsRegulatory Filings and Compliance
Qorvo Adopts New Performance-Based Executive Stock Awards
Positive
Jun 9, 2026
On June 4, 2026, Qorvo’s board compensation committee approved fiscal 2027 performance-based restricted stock unit awards for its named executive officers under the 2022 Stock Incentive Plan, tying payouts to non-GAAP operating income, gross...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.