Qorvo Reports Q3 2026 Earnings Amid Strategic Changes

Written by Emily J. Thompson, Senior Investment Analyst

QRVO+0.38%

Source: seekingalpha

Updated: 1h ago

0mins

Source: seekingalpha

Earnings Highlights: Qorvo's Q3 2026 earnings report projects earnings per share (EPS) nearing $7 with gross margins exceeding 50%, indicating improved profitability amid strategic adjustments.
Strategic Exit: The company has announced its exit from the Android market to focus resources on high-performance analog (HPA) business, which is expected to positively impact future revenue growth.
Market Reaction: Despite optimistic earnings data, Qorvo's stock tumbled due to a weak outlook for Q4, reflecting investor concerns over short-term performance.
Merger Outlook: Qorvo's management emphasized that a merger is not an overnight fix, highlighting the need for time and strategic planning to achieve long-term growth objectives.

QRVO

$82.81+Infinity%1D

Analyst Views on QRVO

Wall Street analysts forecast QRVO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QRVO is 100.08 USD with a low forecast of 85.00 USD and a high forecast of 110.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

17 Analyst Rating

1 Buy

15 Hold

1 Sell

Hold

Current: 82.500

Low

85.00

Averages

100.08

High

110.00

Current: 82.500

Low

85.00

Averages

100.08

High

110.00

Susquehanna

Christopher Rolland

Neutral

downgrade

$95 -> $90

2026-01-22

Reason

Susquehanna

Christopher Rolland

Price Target

$95 -> $90

AI Analysis

2026-01-22

downgrade

Neutral

Reason

Susquehanna analyst Christopher Rolland lowered the firm's price target on Qorvo to $90 from $95 and keeps a Neutral rating on the shares. The firm updated targets in the semiconductor group as a part of an earnings preview. Susquehanna generally expects in-line results to modest upside in Q4, amid a "steadying upcycle" and a broadening of the artificial intelligence infrastructure supply chain. While the industrial end market is improving, auto remains somewhat challenged, the analyst tells investors in a research note.

UBS

Neutral

downgrade

$108 -> $87

2026-01-20

Reason

UBS

Price Target

$108 -> $87

2026-01-20

downgrade

Neutral

Reason

UBS lowered the firm's price target on Qorvo to $87 from $108 and keeps a Neutral rating on the shares. UBS expects Q3 near the midpoint of guidance, telling investors in a research note that Qorvo's defense business should be very strong.

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Mizuho

Neutral

downgrade

$93 -> $85

2026-01-09

Reason

Mizuho

Price Target

$93 -> $85

2026-01-09

downgrade

Neutral

Reason

Mizuho lowered the firm's price target on Qorvo to $85 from $93 and keeps a Neutral rating on the shares. The firm adjusted targets in the semiconductors and semiconductor capital equipment group as part of its 2026 outlook. Mizuho sees continued upside for the group in 2026 due to "attractive valuations," but more modest than 2025. The analyst' top sectors in 2026 are AI accelerators and wafter fab equipment, Optical, and memory, while the firm remains cautious on electric vehicles, autos and analog as well as computers and handsets. Mizuho's top picks for 2026 are Nvidia, Lumentum and Broadcom.

Mizuho

Underperform -> Neutral

upgrade

$65 -> $73

2025-11-10

Reason

Mizuho

Price Target

$65 -> $73

2025-11-10

upgrade

Underperform -> Neutral

Reason

Mizuho upgraded Skyworks (SWKS) to Neutral from Underperform with a price target of $73, up from $65. The company's merger with Qorvo (QRVO) provides "valuation synergies," which helps offset broader handset headwinds, the analyst tells investors in a research note. The firm says the deal is expected to close in April of 2027 with $500M of annual cost synergies expected by 2028.

About QRVO

Qorvo, Inc. is a global provider of connectivity and power solutions. The Company supplies semiconductor solutions. The Company operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG) and Advanced Cellular Group (ACG). The HPA segment is a global supplier of radio frequency (RF), analog mixed signal and power management solutions. The CSG segment is a global supplier of connectivity and sensor solutions, with broad expertise spanning ultra-wideband (UWB), Matter, Bluetooth Low Energy (BLE), Zigbee, Thread, Wi-Fi, cellular solutions for the Internet of Things (IoT) and microelectromechanical system (MEMS)-based sensors. The ACG segment is a global supplier of advanced cellular solutions for smartphones, wearables, laptops, tablets and other devices. The Company serves diverse segments of global markets, including automotive, consumer, defense and aerospace, industrial and enterprise, infrastructure and mobile.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.