QRVO Stock Recent News

Qorvo (QRVO) is expected to record a top-line contraction year over year in the second quarter of fiscal 2023 due to soft demand in some end markets and business uncertainty in China.

SIMO, QRVO and SYNA are poised to benefit from higher demand for scalable infrastructure for seamless connectivity amid a wide proliferation of IoT and a steady pace of 5G rollout.

Qorvo (QRVO) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

The accelerated deployment of 5G is enhancing the prospects of the Zacks Semiconductors - Radio Frequency industry players like Skyworks (SWKS) and Qorvo (QRVO), despite challenging macroeconomic conditions.

Qorvo (QRVO) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Qorvo has become another surrogate for Apple, with a significant portion of its revenue and product penetration coming from Apple products. Qorvo's September guidance showed a huge jump in revenue, indicating a major possible change in the company's position within the Apple ecosystem. The new product from Apple that Qorvo is supplying likely has a high average selling price, leading to potential major gains for Qorvo.

GREENSBORO, N.C., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading global provider of connectivity and power solutions, today announced that Company executives are scheduled to present at the Goldman Sachs Communacopia + Technology Conference on Thursday, September 7, 2023, at 6:45 p.m. Eastern Time (3:45 p.m. Pacific Time).

We're downgrading Qorvo, Inc. to a hold. The stock is up roughly 9% since our upgrade to buy, outperforming the S&P 500 by 1%, driven by the better-than-expected near-term outlook. Consistent with our investment thesis, industry inventory correction has played out, and Qorvo, Inc. expects a strong rebound for the September quarter driven primarily by content gain at Apple's upcoming iPhone.

Qorvo has been hit hard by the downturn in the smartphone market, but it sees a 50% sequential improvement in revenue in the current quarter. Qorvo's bottom-line growth is expected to take off significantly thanks to a recovery in the smartphone space as well as its reliance on Apple.

Although the revenue and EPS for Qorvo (QRVO) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.