Qorvo (NASDAQ:QRVO) Releases Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Qorvo (NASDAQ:QRVO) announced its quarterly earnings results on Tuesday. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.24, FiscalAI reports. Qorvo had a return on equity of 13.30% and a net margin of 5.95%.The business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $984.10 million. During the same quarter in the prior year, the company posted $1.61 earnings per share. Qorvo’s revenue was up 8.4% compared to the same quarter last year. Qorvo updated its Q4 2026 guidance to 1.050-1.350 EPS.

Here are the key takeaways from Qorvo’s conference call:

• Qorvo expects a portfolio-driven improvement in profitability, targeting full-year FY2027 gross margins above 50% and EPS approaching $7, driven by a mix shift toward higher-margin HPA businesses and exits of lower-margin lines.
• Management will intentionally reduce exposure to low-margin mass-tier Android, forecasting approximately a $300 million revenue decline in fiscal 2027 and a March-quarter Android drop larger than typical seasonality.
• High-performance analog (HPA) is a key growth driver — Qorvo expects defense & aerospace (D&A) sales of roughly $500 million in FY2027, supported by NDAA programs and strong demand for PMICs, AESA, and infrastructure amplifiers.
• Operational and balance-sheet improvements — early Costa Rica closure, SAW production transfer to Texas, MEMS divestiture, inventory down to $530M, Q3 free cash flow of $237M, and ~$1.3B cash — are intended to reduce capital intensity and support margin expansion.

Qorvo Stock Performance

Shares of QRVO traded down $5.63 during mid-day trading on Wednesday, hitting $77.18. 5,721,657 shares of the company traded hands, compared to its average volume of 1,395,095. Qorvo has a 1 year low of $49.46 and a 1 year high of $106.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.20 and a current ratio of 2.95. The stock has a 50-day moving average price of $84.67 and a two-hundred day moving average price of $87.77. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 1.54 and a beta of 1.36.

Analyst Upgrades and Downgrades

QRVO has been the subject of several research reports. Argus raised Qorvo to a “hold” rating in a research note on Wednesday, November 5th. TD Cowen dropped their price objective on Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday. Cfra Research upgraded shares of Qorvo to a “hold” rating in a research report on Tuesday, October 28th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Qorvo in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus price target of $93.56.

Hedge Funds Weigh In On Qorvo

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP raised its stake in shares of Qorvo by 16,066.5% during the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock worth $74,197,000 after acquiring an additional 809,591 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Qorvo during the third quarter worth $66,594,000. Voloridge Investment Management LLC lifted its holdings in shares of Qorvo by 2,502.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 553,596 shares of the semiconductor company’s stock valued at $50,422,000 after purchasing an additional 532,322 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Qorvo by 63.6% in the 2nd quarter. Rafferty Asset Management LLC now owns 1,214,482 shares of the semiconductor company’s stock worth $103,122,000 after purchasing an additional 472,211 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Qorvo by 167.0% during the 3rd quarter. AQR Capital Management LLC now owns 638,117 shares of the semiconductor company’s stock worth $58,120,000 after buying an additional 399,163 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo News Summary

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Q3 results beat estimates: Qorvo reported EPS of $2.17 and revenue of $993M, topping consensus and showing growth in smartphone, Wi‑Fi and automotive ultra‑wideband end markets. This confirms near‑term profitability momentum. Qorvo Q3 Earnings Surpass Estimates on Solid Revenue Growth
• Neutral Sentiment: Full earnings materials and call transcripts are available for deeper read — useful for investors assessing management commentary on end‑market demand and product cadence. Qorvo Q3 Press Release / Conference Materials
• Negative Sentiment: Company issued weak Q4 (fiscal Q4 2026) guidance: EPS $1.05–$1.35 vs. Street ~$1.23, and revenue $775–$825M vs. consensus ~$901.5M — a significant revenue miss that is the primary driver of the decline. Qorvo Announces Fiscal 2026 Third-Quarter Financial Results
• Negative Sentiment: Multiple broker price‑target cuts and rating adjustments followed the guidance — examples include Citigroup, TD Cowen, Mizuho and Stifel lowering targets (some keeping Hold/Neutral), and others trimming upside while keeping constructive stances. These cuts amplify selling pressure and reduce near‑term upside expectations. Analyst Price Target Coverage
• Negative Sentiment: Market reaction and commentary: news outlets point to the weak outlook as the reason for the tumble (coverage highlights the outlook miss and analyst concerns). Qorvo tumbles amid weak Q4 outlook
• Negative Sentiment: Short interest jumped ~50.6% in January to ~3.37M shares (about 3.7% of float), which can magnify down‑moves and volatility if bearish flows continue.
• Neutral Sentiment: Some firms kept Buy/Overweight ratings despite lowering targets (Craig Hallum, Piper Sandler), indicating a split among analysts — they see longer‑term upside but are awaiting clearer demand recovery. Craig Hallum price target action

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.