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

Qorvo (NASDAQ:QRVO) announced its quarterly earnings data on Tuesday. The semiconductor company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.24, FiscalAI reports. Qorvo had a net margin of 5.95% and a return on equity of 13.30%. The firm had revenue of $993.00 million during the quarter, compared to the consensus estimate of $984.10 million. During the same quarter last year, the firm earned $1.61 earnings per share. The firm’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 Trading Up 0.4%

Shares of NASDAQ:QRVO traded up $0.31 during trading on Tuesday, reaching $82.81. The stock had a trading volume of 2,104,193 shares, compared to its average volume of 962,928. Qorvo has a fifty-two week low of $49.46 and a fifty-two week high of $106.30. The business has a fifty day moving average price of $84.67 and a 200-day moving average price of $87.77. The stock has a market cap of $7.65 billion, a P/E ratio of 17.01, a PEG ratio of 1.54 and a beta of 1.36. The company has a quick ratio of 2.20, a current ratio of 2.95 and a debt-to-equity ratio of 0.44.

More Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo beat consensus on EPS — reported $2.17 per share, well above recent estimates and last year’s $1.61, showing operational leverage and improved profitability. Qorvo (QRVO) Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Revenue slightly exceeded expectations at about $993M versus consensus near $984M, indicating demand held up in the quarter across key product lines. Qorvo® Announces Fiscal 2026 Third-Quarter Financial Results
• Neutral Sentiment: Analyst notes and metric breakdowns are being published to parse margins, ROE and segment trends — useful for investors deciding if the beat is sustainable, but not immediately market-moving on their own. Qorvo (QRVO) Reports Q3 Earnings: What Key Metrics Have to Say
• Neutral Sentiment: There’s renewed commentary on valuation and longer-term thesis (e.g., “undervalued semiconductor” articles and earnings outlook pieces) that frame longer-term investor views but don’t drive the intraday move. Is Qorvo, Inc. (QRVO) the Most Undervalued Semiconductor Stock to Buy Now?
• Negative Sentiment: Management’s forward commentary/guidance disappointed investors — the outlook was viewed as conservative or weaker than hoped, which triggered selling pressure after the print. Qorvo Stock Tumbles On Q3 Earnings As Outlook Disappoints
• Negative Sentiment: Despite the quarter beat, margins and net-income conversion remain areas to watch (net margin around mid-single digits in the release), so investors focused on profitability trends may stay cautious until guidance clarity improves. Press Release / Q3 Financials

Analyst Ratings Changes

A number of research firms have commented on QRVO. Weiss Ratings downgraded Qorvo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. Cfra reaffirmed a “hold” rating and issued a $122.00 target price on shares of Qorvo in a report on Tuesday, October 28th. Piper Sandler lowered Qorvo from an “overweight” rating to a “hold” rating and set a $110.00 price target on the stock. in a research note on Wednesday, October 29th. Argus raised Qorvo to a “hold” rating in a research note on Wednesday, November 5th. Finally, UBS Group decreased their target price on Qorvo from $108.00 to $87.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $99.73.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new stake in shares of Qorvo during the third quarter worth $36,000. Danske Bank A S acquired a new stake in Qorvo in the 3rd quarter worth about $109,000. Larson Financial Group LLC boosted its stake in Qorvo by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,294 shares of the semiconductor company’s stock worth $118,000 after buying an additional 457 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in Qorvo in the 3rd quarter valued at about $173,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Qorvo by 158.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $180,000 after purchasing an additional 1,301 shares during the period. Hedge funds and other institutional investors 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.