Qorvo (NASDAQ:QRVO) Issues Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Qorvo (NASDAQ:QRVO) announced its earnings results on Tuesday. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53, FiscalAI reports. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. Qorvo updated its FY 2027 guidance to 7.000-7.000 EPS.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $91.76 on Wednesday. The firm has a market capitalization of $8.10 billion, a PE ratio of 25.35, a PEG ratio of 1.41 and a beta of 1.44. Qorvo has a 1-year low of $74.92 and a 1-year high of $109.49. The business’s 50 day moving average is $94.52 and its 200-day moving average is $86.66. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46.

Analysts Set New Price Targets

QRVO has been the topic of a number of research analyst reports. Zacks Research lowered shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Wall Street Zen downgraded Qorvo from a “buy” rating to a “hold” rating in a research report on Saturday. Wolfe Research lowered Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Finally, Mizuho restated an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.07.

Key Stories Impacting Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Strong earnings and revenue beat: Qorvo reported quarterly adjusted EPS of $1.64, well above the $1.11 consensus estimate, while revenue of approximately $784.8 million exceeded expectations near $743 million. EPS rose sharply from $0.92 a year earlier, despite revenue falling about 4.2% year over year. Qorvo Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Improved profitability and cash generation: Reported gross profit increased to $401 million, operating profit reached $96.8 million, and net income attributable to common shareholders was $85.8 million. Operating cash flow totaled $139.5 million, with $1.3 billion in cash and equivalents at quarter-end. Qorvo Releases Fiscal 2027 Earnings
• Positive Sentiment: Raised fiscal-year outlook: Qorvo provided fiscal 2027 EPS guidance of $7.00, above the analyst consensus of $6.69. The guidance increase supports the view that cost controls, product mix, or demand trends could sustain improved profitability. Qorvo Earnings and Guidance
• Neutral Sentiment: Skyworks merger advances: Qorvo and Skyworks Solutions (NASDAQ: SWKS) unveiled a leadership team for their planned combination, while Skyworks said regulatory approvals are progressing. The deal could create operating and strategic benefits, but it remains subject to closing conditions and financing plans. Skyworks and Qorvo Unveil Merger Leadership Team
• Negative Sentiment: Revenue contraction and insider selling: Although Qorvo exceeded estimates, sales were lower than a year ago. Separately, disclosed insider activity over the past six months showed selling and no reported purchases, which may weigh on investor sentiment, though the trades are not necessarily tied to current operating expectations. Qorvo Fiscal 2027 First-Quarter Earnings

Insider Buying and Selling at Qorvo

In other news, Director Peter A. Feld sold 1,900,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the transaction, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Gina Harrison sold 4,714 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $471,400.00. Following the transaction, the vice president owned 24,429 shares of the company’s stock, valued at $2,442,900. This represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,966,127 shares of company stock worth $198,911,103 over the last three months. 0.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Qorvo

A number of hedge funds have recently made changes to their positions in QRVO. Quarry LP boosted its position in Qorvo by 396.9% in the third quarter. Quarry LP now owns 3,245 shares of the semiconductor company’s stock valued at $296,000 after buying an additional 2,592 shares in the last quarter. Fred Alger Management LLC increased its holdings in shares of Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after buying an additional 160 shares in the last quarter. Storgate LLC acquired a new stake in shares of Qorvo during the fourth quarter worth approximately $275,000. Marex Group plc bought a new position in shares of Qorvo in the fourth quarter valued at approximately $251,000. Finally, Captrust Financial Advisors bought a new position in shares of Qorvo in the second quarter valued at approximately $230,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

About Qorvo

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.