Education
About Us
Working with TipRanks
Follow Us
Qorvo (QRVO)
NASDAQ:QRVO
Top Page
Qorvo
(NASDAQ:QRVO)
52Neutral
Positive Factors
Earnings
Qorvo reported another strong beat and raise, driven by the ET PMIC win and another record Aerospace & Defense quarter.
Market Strategy
Wireless share gains, solid diversity increases, and strong operational leverage drive upgrade to Buy vs Hold and new $95 PT.
Product Development
A significant content increase in Apple's and Samsung's new product lines is encouraging for Qorvo's future performance.
Negative Factors
Economic Impact
The FY26 outlook was not reaffirmed and potential direct costs from tariffs are in the SD $M range.
Market Conditions
The lower multiple reflects macro uncertainty.
Market Performance
ACG revenues could still be down approximately MSD% Y/Y in FY26 largely due to the decline in the Android mid-tier market.
Qorvo (QRVO) vs. S&P 500 (SPY)
Market Cap
$5.96B
Dividend YieldN/A
Average Volume (3M)2.82M
Price to Earnings (P/E)225.5
Beta (1Y)1.64
Revenue Growth9.51%
EPS GrowthN/A
CountryUS
Employees8,700
SectorTechnology
Sector Strength63
IndustrySemiconductors
Share Statistics
EPS (TTM)0.28
Shares Outstanding93,396,835
10 Day Avg. Volume2,122,751
30 Day Avg. Volume2,816,644
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.27
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit5.08
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$84.92Price Target Upside18.49% Upside
Rating ConsensusHold
Number of Analyst Covering15
Qorvo Business Overview & Revenue Model
Company DescriptionQorvo, Inc. develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers. The company's also provides SiC products, such as Schottky diodes and transistors for automotive, industrial, IT infrastructure and renewable energy markets; SoC hardware, firmware, and application software for smart home applications; power management solutions include programmable power management integrated circuits (ICs) and power application controllers; RF products and compound semiconductor foundry services to defense primes and other global defense and aerospace customers; RF connectivity and UWB SoC solutions for automotive connectivity; and Wi-Fi products, such as PAs, switches, LNAs and bulk acoustic wave filters, as well as integrated solutions including front end modules (FEMs) and integrated FEMs. It sells its products directly to original equipment manufacturers and original design manufacturers, as well as through a network of sales representative firms and distributors. The company was founded in 1957 and is headquartered in Greensboro, North Carolina.
How the Company Makes MoneyQorvo generates revenue through the design, manufacturing, and sale of its RF solutions. Its primary revenue streams include the sale of semiconductor products to original equipment manufacturers (OEMs) and service providers in various sectors, such as mobile devices, telecommunications, aerospace, and defense. The company partners with industry leaders to integrate its RF components into a wide array of devices, from smartphones to communication networks. Qorvo's earnings are significantly influenced by its ability to innovate and deliver high-performance products that meet the evolving demands of wireless communication technologies, as well as its strategic relationships with key industry players.
Qorvo Financial Statement Overview
Summary
Qorvo's financials reflect challenges with declining revenue and profitability, moderate leverage, and positive but declining cash flows. While the company demonstrates operational cash flow strength, concerns over revenue growth and profitability impact its overall financial health.Income Statement
Qorvo has shown a significant decrease in revenue and profitability over recent years. The Net Profit Margin for TTM is 2.11%, indicating limited profitability. Revenue growth is negative compared to previous periods, reflecting challenges in maintaining sales momentum. EBITDA Margin for TTM is 9.78%, demonstrating moderate operational efficiency.65
Positive
Balance Sheet
The Balance Sheet highlights concerns with the Debt-to-Equity Ratio at 0.56 in the latest annual report, indicating moderate leverage. The ROE is negative in the latest annual period, reflecting challenges in generating returns for shareholders. The absence of stockholders' equity and liabilities data in the TTM period raises concerns about transparency and financial health.40
Negative
Cash Flow
Qorvo's cash flow statement shows a positive Free Cash Flow to Net Income Ratio in TTM, indicating strong cash generation capability. Operating Cash Flow is robust, though declining from previous years, suggesting operational cash flow strength but potential future challenges if trends continue.70
Positive
| Breakdown | ||||
| Mar 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Mar 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 3.77B | 3.57B | 4.65B | 4.02B | 3.24B | Gross Profit |
| 1.49B | 1.30B | 2.29B | 1.88B | 1.32B | EBIT |
| 91.70M | 183.17M | 883.00M | 426.47M | -13.45M | EBITDA |
| 463.74M | 531.94M | 1.61B | 1.34B | 924.41M | Net Income Common Stockholders |
| -70.32M | 103.15M | 1.03B | 733.61M | 334.32M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 1.03B | 808.76M | 972.59M | 1.40B | 714.94M | Total Assets |
| 6.55B | 6.69B | 7.51B | 7.22B | 6.56B | Total Debt |
| 1.99B | 2.05B | 2.05B | 1.74B | 1.57B | Net Debt |
| 958.75M | 1.24B | 1.07B | 344.67M | 852.29M | Total Liabilities |
| 3.00B | 2.79B | 2.96B | 2.59B | 2.27B | Stockholders Equity |
| 3.56B | 3.90B | 4.55B | 4.63B | 4.29B |
| Cash Flow | Free Cash Flow | |||
| 705.96M | 684.28M | 835.78M | 1.11B | 781.54M | Operating Cash Flow |
| 833.19M | 843.23M | 1.05B | 1.30B | 945.65M | Investing Cash Flow |
| -136.47M | -153.41M | -595.96M | -218.66M | -1.11B | Financing Cash Flow |
| -459.57M | -853.35M | -875.51M | -401.92M | 165.56M |
Qorvo Technical Analysis
Neutral
71.67
Price Trends
67.86
Positive
71.74
Negative
85.37
Negative
Market Momentum
-0.82
Negative
61.97
Neutral
89.96
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QRVO, the sentiment is Neutral. The current price of 71.67 is above the 20-day moving average (MA) of 60.23, above the 50-day MA of 67.86, and below the 200-day MA of 85.37, indicating a neutral trend. The MACD of -0.82 indicates Negative momentum. The RSI at 61.97 is Neutral, neither overbought nor oversold. The STOCH value of 89.96 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for QRVO.
Qorvo Risk Analysis
Qorvo disclosed 32 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
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $3.03B | 27.39 | 23.12% | 2.00% | 36.10% | 48.15% | |
71 Outperform | $7.71B | 138.48 | -9.49% | ― | 26.40% | -234.22% | |
69 Neutral | $9.54B | 19.03 | 8.34% | 4.52% | -12.91% | -42.12% | |
68 Neutral | $16.90B | 11.02 | 18.97% | ― | -14.19% | -27.42% | |
59 Neutral | $10.71B | 10.35 | -6.77% | 3.02% | 7.32% | -11.27% | |
56 Neutral | $4.09B | ― | -6.32% | ― | -28.33% | -129.75% | |
52 Neutral | $5.96B | 225.52 | 0.77% | ― | 9.51% | ― |
* Technology Sector Average
Performance Comparison
QRVO
Qorvo
71.67
-40.22
-35.95%
CAMT
Camtek
65.34
-13.54
-17.17%
MTSI
MACOM Technology Solutions Holdings
103.75
4.63
4.67%
ON
ON Semiconductor
39.70
-29.31
-42.47%
SWKS
Skyworks Solutions
64.28
-23.16
-26.49%
ALGM
Allegro MicroSystems
19.07
-9.74
-33.81%
Qorvo Earnings Call Summary
Earnings Call Date:Apr 29, 2025
(Q4-2025)
| % Change Since: 14.40%|
Next Earnings Date:Jul 30, 2025
Earnings Call Sentiment Positive
Qorvo's earnings call highlighted strong performance in key segments like DNA and CSG, with record revenues and significant content growth with its largest customer. However, challenges such as tariff uncertainties and strategic exits from lower-margin Android business present potential headwinds. Despite these challenges, the company's initiatives appear to be setting a solid foundation for future growth.Q4-2025 Updates
Positive Updates
Record Revenue in Defense and Aerospace (DNA) Segment
Qorvo's DNA segment posted a record revenue quarter, marking the third consecutive year of year-over-year revenue growth. The sales funnel for the DNA business currently exceeds $5 billion, with plans to scale the business to $1 billion annually.
Double-Digit Revenue Growth in CSG and HPA Segments
For fiscal year 2025, both the Connectivity and Sensors Group (CSG) and High Performance Analog (HPA) segments grew revenue double digits, driven by strong demand in areas such as Ultra-Wideband technology and power management.
Strong Content Growth with Largest Customer
Qorvo achieved greater than 10% year-over-year content growth with its largest customer, driven by the ramp-up of the envelope tracking power management solution and additional wins in antenna tuning and ultra-high band content.
Strategic Expansion in Automotive and Consumer Markets
Qorvo expanded its automotive connectivity footprint in Japan and began production of its first power management IC for wearables, indicating successful diversification efforts.
Significant Free Cash Flow Generation
Qorvo generated $485 million in free cash flow for fiscal 2025, returning over $350 million to shareholders via share repurchases and retiring over $400 million of debt.
Negative Updates
Challenges with Tariffs and Uncertain Trade Environment
Qorvo is facing continued uncertainty surrounding tariffs and broader macroeconomic conditions, which could impact financial performance. The potential impact of tariffs could rise to high single-digit millions per quarter if certain exemptions expire.
Decline in Android Business
Qorvo is exiting $150 million to $200 million worth of lower-margin Android business to focus on more profitable segments, representing a significant reduction in revenue from this segment.
Closure of Costa Rica Facility
Qorvo announced the closure of its facility in Costa Rica as part of efforts to consolidate its manufacturing footprint, which may involve transitional costs and logistics challenges.
Company Guidance
In the recent Qorvo Inc. Fourth Quarter 2025 Earnings Conference Call, the company provided guidance reflecting a strategic focus on growth and operational efficiency. Qorvo reported a strong quarter with revenue of $869 million and non-GAAP diluted earnings of $1.42 per share, exceeding midpoint guidance. For fiscal year 2025, they achieved $3.7 billion in revenue with a non-GAAP gross margin of 45.2%, up 70 basis points year-over-year. The company highlighted a greater than 10% year-over-year content growth opportunity with its largest customer and projected double-digit revenue growth in both Connectivity & Sensors Group (CSG) and High Performance Analog (HPA) segments. This growth is anchored in expanding defense and aerospace businesses and increased automotive and Ultra-Wideband opportunities. The company also outlined margin improvement strategies, such as exiting legacy Android programs and consolidating manufacturing operations, including the closure of its Costa Rica facility. For the upcoming quarter, Qorvo forecasts revenue of $775 million, with non-GAAP gross margins between 42% and 44%, and diluted EPS ranging from $0.50 to $0.75, amid a dynamic global trade environment and ongoing supply chain challenges.Qorvo Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Qorvo Expands Board with New Appointments
Positive
Apr 14, 2025
On April 12, 2025, Qorvo announced the appointment of Richard L. Clemmer and Chris Koopmans as independent members of its Board of Directors, increasing the board size to nine members. This change is part of a board refreshment initiative aimed at enhancing strategic oversight with experienced industry leaders. Concurrently, David H. Y. Ho retired from the board to focus on other professional commitments. These appointments are expected to support Qorvo’s growth and diversification strategy, enhancing shareholder value and expanding market reach.
Spark’s Take on QRVO Stock
According to Spark, TipRanks’ AI Analyst, QRVO is a Neutral.
Qorvo’s overall stock score reflects significant challenges with declining revenue and profitability, moderate leverage, and bearish technical indicators. While there are positives in cash flow generation and sector-specific growth, the high valuation and negative guidance weigh heavily on the score.
To see Spark’s full report on QRVO stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.